Importance of Section 139 (8A)

[CA Rachit Agarwal]

Could anyone tell me the importance of interest chargeability under Section139 (8A) of the Income Tax Act

[CAGOPALJI AGRAWAL]

This sub section is applicable upto assessment year 1987-88 only when the AO had the power for extention of date.

AI Summary

Section 139 (8A) of Income Tax Act allowed AO to extend return filing deadlines only until 1987-88. Now obsolete. Section 139 (8A) of the Income Tax Act was relevant only up to the assessment year 1987-88. During this period, the Assessing Officer (AO) had the authority to extend the due date for filing returns. This provision is no longer applicable for subsequent assessment years.