https://www.taxtmi.com/caselaws?id=12735 Interest under section 7C of the Companies (Profits) Surtax Act depended on whether advance surtax was short of assessed tax, with waiver governed by rule 13C. The underlying computation issue concerned unpaid sales tax under section 43B of the Income-tax Act, where the first proviso was treated as retrospective so that sales tax paid before the return due date could not be disallowed. On that basis, a revised return that had wrongly included the sales tax amount under a mistaken legal view did not create a real surtax shortfall, and the shortfall was not attributable to any default by the assessee. Full waiver of interest was therefore justified, with consequential refund relief. en-us Thu, 25 May 2000 00:00:00 +0530 Thu, 21 May 2009 16:39:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12735 Interest under section 7C of the Companies (Profits) Surtax Act depended on whether advance surtax was short of assessed tax, with waiver governed by rule 13C. The underlying computation issue concerned unpaid sales tax under section 43B of the Income-tax Act, where the first proviso was treated as retrospective so that sales tax paid before the return due date could not be disallowed. On that basis, a revised return that had wrongly included the sales tax amount under a mistaken legal view did not create a real surtax shortfall, and the shortfall was not attributable to any default by the assessee. Full waiver of interest was therefore justified, with consequential refund relief. Case-Laws Income Tax Thu, 25 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12735