https://www.taxtmi.com/caselaws?id=15568 Interest for delay in filing a return under Section 139(8) is compensatory, and it is not leviable where advance tax already paid exceeds the tax ultimately assessed. On the facts stated, no interest arose merely because the return was filed beyond time, since the tax liability stood fully covered after adjustment of advance tax. The registered-firm status did not create a separate basis for charging interest in the absence of any remaining tax payable. Interest under Section 139(8) was therefore not chargeable. en-us Fri, 18 Dec 1998 00:00:00 +0530 Wed, 26 Aug 2009 10:50:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15568 Interest for delay in filing a return under Section 139(8) is compensatory, and it is not leviable where advance tax already paid exceeds the tax ultimately assessed. On the facts stated, no interest arose merely because the return was filed beyond time, since the tax liability stood fully covered after adjustment of advance tax. The registered-firm status did not create a separate basis for charging interest in the absence of any remaining tax payable. Interest under Section 139(8) was therefore not chargeable. Case-Laws Income Tax Fri, 18 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15568