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TMI Blog2005 (5) TMI 36X X X X Extracts X X X X X X X X Extracts X X X X ..... o the assessee, even though, the advance tax of Rs. 18,00,000 due on December 15, 1985, was paid on February 8, 1986, and there is no provision under the said Act entitling the assessee to claim interest where interest (sic) is paid after the statutory date, i.e., December 15, of the relevant previous year though before the March 31, of the relevant previous year?" The brief facts of the case are that the assessee-company was not previously assessed by way of regular assessment under the Companies (Profits) Surtax Act, 1964 (hereinafter referred to as "the Act") and as such it was liable to submit its estimate in respect of correct chargeable amount to surtax in accordance with the provisions of section 7A(5)(b) and to pay the advance tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal and the authorities below. Section 7A(4)(a) and section 7B read as follows: "Section 7A. Advance payment of surtax.-(1) In this section,-... (4) Subject to the provisions of this section, advance surtax shall be payable in three equal instalments on the following dates during the financial year, namely:- (a) the 15th day of June, the 15th day of September and the 15th day of December, in the case of an assessee whose chargeable amount to the extent of 75 per cent, thereof or more is derived from a source or sources for which the previous year (relevant to the assessment year next following the financial year aforesaid) ends on or before the 31st day of December; (b) the 15th day of September, the 15th day of December and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the cases of CIT v. Karnataka State Warehousing Corporation Ltd. [1990] 185 ITR 25; CIT v. Woodlands Hotel P. Ltd. [1998] 233 ITR 224, 227; the Kerala High Court in the cases of Santha S. Shenoy v. Union of India [1982] 135 ITR 39; CIT v. Travancore Cements Ltd. [1995] 212 ITR 218; the Patna High Court in the case of CIT v. Kharsawan Mineral Concern P. Ltd. [1995] 213 ITR 270, 272; the Punjab and Haryana High Court in the cases of CIT v. Road-master Industries of India P. Ltd. [1992] 193 ITR 639; CIT v. Agrawal Metal Works P. Ltd. [1998] 230 ITR 958, 960; the Rajasthan High Court in the case of Jai Drinks P. Ltd. v. CIT [1996] 217 ITR 404, 413; the Madras High Court in the cases of CIT v. T.T. Investments and Trades P. Ltd. [1984] 148 ITR ..... X X X X Extracts X X X X X X X X Extracts X X X X
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