Commissioner cannot reject estimates submitted by taxpayer Section 147

Commissioner cannot reject estimates submitted by taxpayer Section 147: Section 147(6) of Income provides that if tax payer estimates at any time before last instalment of advance tax is due, that tax payable by him for relevant tax year is likely to be less than the amount he is required to pay on quarterly basis, he can submit an estimate to the Commissioner and the Commissioner was empowered to reject the said estimate filed by the taxpayer forcing him to pay more amount of advance tax then he is actually required to pay.

The Finance Bill now proposes to withdraw such power of the Commissioner by proposing to remove the relevant proviso.

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