https://www.taxtmi.com/caselaws?id=12817 A provisional assessment under the Business Profits Tax Act, 1947 operates only until a regular assessment is made, and it merges into the regular assessment once that process is completed. If the regular assessment is later quashed, tax collected solely under the provisional assessment cannot survive as an independent demand. The statutory scheme also contemplates refund of excess tax paid under provisional assessment with interest where the final liability is lower. The court therefore held that the assessee was entitled to refund of the amount recovered under the provisional assessments together with interest, and the orders refusing refund were unsustainable. en-us Wed, 13 Dec 2000 00:00:00 +0530 Fri, 22 May 2009 11:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12817 A provisional assessment under the Business Profits Tax Act, 1947 operates only until a regular assessment is made, and it merges into the regular assessment once that process is completed. If the regular assessment is later quashed, tax collected solely under the provisional assessment cannot survive as an independent demand. The statutory scheme also contemplates refund of excess tax paid under provisional assessment with interest where the final liability is lower. The court therefore held that the assessee was entitled to refund of the amount recovered under the provisional assessments together with interest, and the orders refusing refund were unsustainable. Case-Laws Income Tax Wed, 13 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12817