COMMISSIONER OF INCOME TAX Vs. ANDHRA PRADESH STATE ROAD TRANSPORT CORPORATION

JUDGEMENT

(1.) THE question referred by the Income-tax Appellate Tribunal, Hyderabad, in this reference is as follows :

(2.) THE following facts are stated by the Tribunal in the statement of cases : THE assessee is the Andhra Pradesh State Road Transport Corporation, Hyderabad, plying buses on various routes in Andhra Pradesh. THE assessee is a person hitherto assessed. In these proceedings we are concerned with the assessment year 1970-71 for which the financial year is 1969-70.

(3.) AFTER the assessee filed the advance tax estimate for the assessment year 1970-71 and paid Rs. 14,47,000 being the first installment of advance tax, the ITO on September 27, 1969, referred to the estimate filed by the assessee on September 12, 1969, and wrote to the assessee as follows :