Law:

Section:

Section 273, read with section 212(3A) of the Income-tax Act, 1961 - Penalty - For false estimate of, or failure to pay advance tax - Whether in view of decision in CIT v. Smt. Parvati Devi [1983] 141 ITR 738 (Punj. & Har.), Tribunal was correct in holding that non-filing of estimate under section 212(3A) by firm would constitute reasonable cause within meaning of section 273(c) for non-filing of estimate under section 212(3A) by assessee-partner - Held, yes FACTS The Tribunal held that non-filing of an estimate under section 212(3A) by the firm would constitute a reasonable cause within the meaning of section 273(c), for non-filing of an estimate under section 212(3A) by the assessee-partner. HELD In view of the of this court in CIT v. Smt. Parvati Devi [1983] 141 ITR 738, the Tribunal was correct in holding that non-filing of estimate by firm under section 212(3A) constituted reasonable cause within meaning of section 273(c) for non-filing of an estimate under section 212(3A) by the assessee-partner. Note: The case was decided in favour of the assessee. CASE REVIEW CIT v. Smt. Parvati Devi [1983] 141 ITR 738…

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