https://www.taxtmi.com/caselaws?id=60948 Section 7A of the surtax scheme requires a company without a prior regular assessment to file an estimate of current chargeable amount and advance surtax payable, but only where the statutory computation mechanism under section 7A(3) can operate on the facts. If no workable basis exists because there is no relevant regular or provisional assessment, penalty for non-compliance is not sustainable. Where the relevant regular assessment is completed before the due date for advance surtax, the estimate-and-payment machinery applies and default attracts penalty under section 9A(2)(a); the rate applied to the amount in default was treated as reasonable. en-us Fri, 28 May 1999 00:00:00 +0530 Mon, 10 Jan 2011 10:52:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60948 Section 7A of the surtax scheme requires a company without a prior regular assessment to file an estimate of current chargeable amount and advance surtax payable, but only where the statutory computation mechanism under section 7A(3) can operate on the facts. If no workable basis exists because there is no relevant regular or provisional assessment, penalty for non-compliance is not sustainable. Where the relevant regular assessment is completed before the due date for advance surtax, the estimate-and-payment machinery applies and default attracts penalty under section 9A(2)(a); the rate applied to the amount in default was treated as reasonable. Case-Laws Income Tax Fri, 28 May 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60948