Provisional assessments under Companies Profits Surtax Act must be completed and demand collected within the financial year.

Provisional assessments under the Companies (Profits) Surtax Act, 1964 should be completed where regular assessments cannot be finalised within the financial year; they may be made after the statutory period for furnishing returns of chargeable profits has expired even without such returns, and officers must raise and seek collection of the resulting demand within the same year.

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