https://www.taxtmi.com/caselaws?id=5239 Interest for late filing of returns under section 139 was treated as compensatory and could be charged even where no application for extension of time had been made, so long as the return was filed after the prescribed time and before the four-assessment-year limit. The provision treating registered firms like unregistered firms for this limited purpose was held to be a valid classification and not violative of article 14 because it applied the same compensatory charge to the same default. However, where advance tax already covered the entire assessed tax, no compensable loss remained and interest could not be levied; amounts recovered on that basis were refundable. en-us Fri, 30 Oct 1987 00:00:00 +0530 Fri, 21 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5239 Interest for late filing of returns under section 139 was treated as compensatory and could be charged even where no application for extension of time had been made, so long as the return was filed after the prescribed time and before the four-assessment-year limit. The provision treating registered firms like unregistered firms for this limited purpose was held to be a valid classification and not violative of article 14 because it applied the same compensatory charge to the same default. However, where advance tax already covered the entire assessed tax, no compensable loss remained and interest could not be levied; amounts recovered on that basis were refundable. Case-Laws Income Tax Fri, 30 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5239