https://www.taxtmi.com/caselaws?id=23129 Under the amended section 139 of the Income-tax Act, automatic levy of interest did not bar the simultaneous imposition of penalty for failure to comply with filing requirements. The Court distinguished earlier authorities cited by the assessee because they arose under different statutory settings and earlier assessment years. It also held that extension of time granted by the assessing authority, by itself, did not create any presumption against penalty. The challenge to the penalty therefore failed, and the revisionary confirmation of the levy was upheld. en-us Tue, 03 Oct 1989 00:00:00 +0530 Wed, 16 Dec 2009 18:38:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23129 Under the amended section 139 of the Income-tax Act, automatic levy of interest did not bar the simultaneous imposition of penalty for failure to comply with filing requirements. The Court distinguished earlier authorities cited by the assessee because they arose under different statutory settings and earlier assessment years. It also held that extension of time granted by the assessing authority, by itself, did not create any presumption against penalty. The challenge to the penalty therefore failed, and the revisionary confirmation of the levy was upheld. Case-Laws Income Tax Tue, 03 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23129