Section 7(1) in The Companies (Profits) Surtax Act, 1964
(1)The [Assessing Officer] [Substituted for the words "Income-tax Officer" by Act 04 of 1988, section 187], before proceeding to make an assessment under section 6 (in this section referred to as the regular assessment) may, at any time after the expiry of the period allowed under sub-section (1) or sub-section (2) of section 5 for the furnishing of the return and whether the return has or has not been furnished, proceed to make in a summary manner a provisional assessment of the chargeable profits and the amount of the surtax payable thereon.
