TMI Blog1999 (11) TMI 120X X X X Extracts X X X X X X X X Extracts X X X X ..... the income at Rs. 66,270. The return of income for assessment year 1987-88 was accepted on 8-3-1988 determining the income-tax liability at Rs. 15,758 and the assessee had paid advance-tax of Rs. 25,250 and there was a refund of Rs. 9,492 for that year along with interest under section 214 of the Act. In respect of the return filed, there was no self-assessment tax payable in view of the large amount of advance tax payments. According to the assessee, there was no obligation to file any statement of advance-tax in the light of these details. The basic condition for liability to pay advance tax arises only when the tax liability exceeds Rs. 1,500. With reference to the assessment completed for the assessment year 1986-87 there was a tax liab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facts and circumstances of the case the assessee is not obliged to file any statement of advance tax in Form No. 28A. The departmental representative, on the other hand, strongly supported the departmental stand. 4. I have gone through the records and also the case laws relied upon by the assessee. In the case of Patel Aluminium (P.) Ltd., the failure to submit the statement called for by section 209A(1)(a) of the Income-tax Act, 1961, forms the basis both for levy of interest under section 217(1)(a) and for levy of penalty under section 273(1)(b). Under section 209A(1)(a), the obligation of an assessee who has been previously regularly assessed to tax is to compute the advance tax payable by him in the manner provided by section 209(1)( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year being a year later than the previous year referred to in clause (a) on the basis of which tax has been paid by the assessee under section 140A exceeds the total income referred to in clause (a), or (ii) the Income-tax Officer makes an amended order referred to in sub-section (3) of section 210 on the basis of the total income on which tax has been paid by the assessee under section 140A. the total income referred to in clause (a) shall be substituted,--- (1) in a case failing under sub-clause (i), by the total income on the basis of which tax has been paid under section 140A, and" To make the income returned of the latest previous year as the basis for requiring the assessee to compute the advance tax, there should have been a pa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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