https://www.taxtmi.com/caselaws?id=9738 Advance surtax paid after the prescribed instalment date but within the same financial year is treated as advance tax for interest purposes under section 7B of the Companies (Profits) Surtax Act, 1964. The statutory scheme required instalment payments during the year, but the timing default did not alter the character of a payment made before regular assessment. On that basis, interest remained payable where the aggregate advance tax for the financial year exceeded the tax determined on regular assessment, and the assessee was held entitled to interest. en-us Tue, 10 May 2005 00:00:00 +0530 Tue, 30 Jun 2009 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9738 Advance surtax paid after the prescribed instalment date but within the same financial year is treated as advance tax for interest purposes under section 7B of the Companies (Profits) Surtax Act, 1964. The statutory scheme required instalment payments during the year, but the timing default did not alter the character of a payment made before regular assessment. On that basis, interest remained payable where the aggregate advance tax for the financial year exceeded the tax determined on regular assessment, and the assessee was held entitled to interest. Case-Laws Income Tax Tue, 10 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9738