https://www.taxtmi.com/caselaws?id=57549 A timely filed nil estimate under section 7A of the Companies (Profits) Surtax Act, 1964 does not by itself exclude liability to interest under section 7(c) for non-payment of advance surtax. The Tribunal held that reliance on Income-tax Act authorities was unhelpful because they concerned different provisions and facts, and that the assessee's earlier advance payments and exhausted losses and allowances did not provide a basis to avoid the statutory interest charge. The levy of interest under section 7(c) was therefore sustained. en-us Thu, 26 Mar 1998 00:00:00 +0530 Fri, 10 Dec 2010 17:09:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57549 A timely filed nil estimate under section 7A of the Companies (Profits) Surtax Act, 1964 does not by itself exclude liability to interest under section 7(c) for non-payment of advance surtax. The Tribunal held that reliance on Income-tax Act authorities was unhelpful because they concerned different provisions and facts, and that the assessee's earlier advance payments and exhausted losses and allowances did not provide a basis to avoid the statutory interest charge. The levy of interest under section 7(c) was therefore sustained. Case-Laws Income Tax Thu, 26 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57549