https://www.taxtmi.com/caselaws?id=13183 Interest under section 7C of the Companies (Profits) Surtax Act, 1964 is statutorily attracted on default in advance surtax payment and does not require a separate levy order. Waiver is not presumed from silence in the assessment order; it requires a conscious decision satisfying the conditions in rule 13C of the Companies (Profits) Surtax Rules, 1964. Where the assessment records show no application of mind to waiver, omission to charge the interest is a mistake apparent from the record and can be rectified under section 13. The High Court rejected the contention of implied waiver and treated the omission as rectifiable. en-us Thu, 01 Nov 2001 00:00:00 +0530 Tue, 26 May 2009 18:27:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13183 Interest under section 7C of the Companies (Profits) Surtax Act, 1964 is statutorily attracted on default in advance surtax payment and does not require a separate levy order. Waiver is not presumed from silence in the assessment order; it requires a conscious decision satisfying the conditions in rule 13C of the Companies (Profits) Surtax Rules, 1964. Where the assessment records show no application of mind to waiver, omission to charge the interest is a mistake apparent from the record and can be rectified under section 13. The High Court rejected the contention of implied waiver and treated the omission as rectifiable. Case-Laws Income Tax Thu, 01 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13183