COMMISSIONER OF INCOME TAX Vs. MEHTA B P

JUDGEMENT

(1.) ON being moved under section 256(1) of the Income -tax Act, 1961, the Income -tax Appellate Tribunal has referred the following questions of law for our opinion :

(2.) IN order to answer the aforesaid questions, it will be necessary to have a glance at a few relevant facts which are stated herein :

(3.) FROM the aforesaid provision, it becomes clear that an assessee who is required to pay advance tax by an order under section 210, because of increase in current income which is likely to be grater than the income on which the advance tax payable by him under section 210 is computed or, for any other reason, the amount of advance tax compute exceeds the amount of advance tax demanded from him by more than 33 -1/3rd per cent., he is required on or before the date on which the last installment of advance tax is due from him, to send to the Income -tax Officer an estimate of (i) his current income and (ii) the advance tax payable by him on the current income calculated in the manner laid down in section 209, and he shall pay such amount of advance tax as accords with his estimate. The liability of the assessee is, therefore, to send to the Income -tax Officer an estimate of hi current income and the advance tax payable by him and he is also liable to pay such of advance tax as accords with his estimate.