TMI Blog1974 (7) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... d sale of agricultural implements, fertiliser, etc. On 22nd May, 1973, the Income-tax Officer, Lucknow, served upon the petitioner a notice under section 210 of the Income-tax Act, 1961, requiring the petitioner to pay a sum of Rs. 25,14,616 as advance tax for the assessment year 1974-75. The petitioner estimated its current income for the assessment year 1974-75 at Rs. 35,00,000 of which the payable amount of advance tax came to Rs. 20,21,250. The petitioner sent its return of current income to the Income-tax Officer on December 17, 1973, and paid a sum of Rs. 8,38,206 each on December 14, 1973, and December 15, 1973, respectively. According to it, it had to pay only a sum of Rs. 3,44,838 more before March 15, 1974. It appears that this re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... could not be taken as correct estimate. Thus, on this basis the demand could not be reduced. The petitioner was required to deposit the entire amount mentioned in the earlier notice by 21st March, 1974, otherwise coercive measures were threatened. On 21st March, 1974, the Income-tax Officer issued a notice to the agent, State Bank of India, Lucknow, requiring the bank to pay Rs. 14,70,663 to the Income-tax Officer forthwith from out of the account of the petitioner with the bank. These actions of the Income-tax Officer led the petitioner to this court. The first notice demanding payment of advance tax dated 22nd May, 1973, for Rs. 25,14,616 was based on the assessment of the petitioner's income for the year 1971-72. The second notice of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... who is required to pay advance tax by an order under section 210 estimates that his income subject to advance tax is less than the income on which he is required to pay such tax, and, accordingly, wishes to pay an amount less than the amount which he is so required to pay, he may send to the Income-tax Officer an estimate of the total income and of the advance tax payable by him calculated in the manner laid down in section 209 and shall pay such amount as accords with his estimate. Under sub-section (2) of section 212 an assessee can send a revised estimate of the advance tax payable by him. Clause (c) of section 209 provides : " (c) in cases where an estimate is sent by the assessee under sub-section (1) or sub-section (2) or sub-se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... serves upon the assessee a fresh notice of demand based upon the provisional assessment, the assessee is required to repeatedly file revised estimates of his current income under section 212. Sub-section (2) of section 212 entitles the assessee to send a revised estimate of the advance tax payable by him. This enabling provision obviously gives choice to the assessee to revise his estimate when he thinks fit to do so. The assessee could make use of this provision if according to its estimate the earlier estimate submitted by it required variation. The revised estimate contemplated by section 212(2) is not required to be submitted each time the Income-tax Officer chooses to amend the computation of the total income, under clause (a), by exe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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