https://www.taxtmi.com/caselaws?id=16927 The court upheld the constitutional validity of sections 234A, 234B, and 234C of the Income-tax Act, 1961, finding them compensatory rather than penal in nature. The court ruled that the provisions aimed to compensate the Revenue for delays or defaults in tax payments, citing precedent that supported this interpretation. The court also held that the lack of a hearing before imposing interest did not violate principles of natural justice, as the provisions were automatic and safeguards existed for bona fide assessees. The appeals were dismissed, affirming the lower court's decision. en-us Fri, 31 Jan 1997 00:00:00 +0530 Mon, 14 Sep 2009 11:26:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16927 The court upheld the constitutional validity of sections 234A, 234B, and 234C of the Income-tax Act, 1961, finding them compensatory rather than penal in nature. The court ruled that the provisions aimed to compensate the Revenue for delays or defaults in tax payments, citing precedent that supported this interpretation. The court also held that the lack of a hearing before imposing interest did not violate principles of natural justice, as the provisions were automatic and safeguards existed for bona fide assessees. The appeals were dismissed, affirming the lower court's decision. Case-Laws Income Tax Fri, 31 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16927