Dipak Kumar Sen, J. - (1.) The material facts in and the proceedings leading up to this reference are, inter alia, that in the assessment year 1977-78, the relevant accounting year ending on April 18, 1977, an order under Section 210 of the Income-tax Act, 1961, was passed by the Income-tax Officer on May 15, 1976, requiring M/s. Pasirpati Das & Sons Pvt. Ltd., the assessee, to pay advance tax for the said year in three prescribed instalments.
(2.) The assesses felt that its current income for the relevant period was likely to be less than the income on which the advance tax payable by him under Section 210 had been computed. Accordingly, the assessee exercised his option under Section 212 of the Act and submitted an estimate of his current income to the Income-tax Officer and on the basis thereof paid the first instalment of advance tax of Rs. 9,000 on September 16, 1976.
(3.) On December 15, 1976, the assessee paid the second instalment of advance tax of Rs. 9.000 on the basis of the same estimate.;