Amendment of section 212

Section 25 of the Finance Act, 1970 deals with amendment of section 212. Amendment of section 212 25. In section 212 of the Income-tax Act, to sub-section (3A), the following proviso shall be added, namely:— "Provided that in a case where the Commissioner is satisfied that, having regard to the nature of the business carried on, by the assessee and the date of expiry of The Act was enacted on 14 May 1970.

Amendment of section 212

25. In section 212 of the Income-tax Act, to sub-section (3A), the following proviso shall be added, namely:—

"Provided that in a case where the Commissioner is satisfied that, having regard to the nature of the business carried on, by the assessee and the date of expiry of the previous year in respect of such business, it will be difficult for the assessee to furnish the estimate required to be furnished by him in accordance with the provisions of this sub-section before the date on which the last instalment of advance tax is due in his case, he may, if the assessee pays the advance tax demanded from him under section 210 before such date, extend the date for furnishing such estimate up to a period of thirty days immediately following the last date of the previous year in respect of that business, and where the date is so extended, the assessee shall pay, on or before the date so extended, the amount by which the amount of advance tax already paid by him fails short of the advance tax payable in accordance with his estimate.".

[Finance Act, 1970]

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Section 25, The Finance Act, 1970 (Act 19 of 1970).