https://www.taxtmi.com/caselaws?id=39215 The court upheld the jurisdiction of charging penal interest under Section 139(1) of the Income-tax Act, clarifying that penal interest could be imposed even if the return was filed before assessment but after the specified period. The court found no hostile discrimination under Article 14, deeming the distinction between late and non-filers reasonable for tax enforcement. Additionally, penal interest was deemed compensation, not a penalty, for delayed tax collection, and treating registered firms as unregistered for interest calculation was upheld. The petitioners' contentions were dismissed, and they were directed to pay respondents' costs. en-us Tue, 18 Dec 1973 00:00:00 +0530 Tue, 13 Apr 2010 17:27:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39215 The court upheld the jurisdiction of charging penal interest under Section 139(1) of the Income-tax Act, clarifying that penal interest could be imposed even if the return was filed before assessment but after the specified period. The court found no hostile discrimination under Article 14, deeming the distinction between late and non-filers reasonable for tax enforcement. Additionally, penal interest was deemed compensation, not a penalty, for delayed tax collection, and treating registered firms as unregistered for interest calculation was upheld. The petitioners' contentions were dismissed, and they were directed to pay respondents' costs. Case-Laws Income Tax Tue, 18 Dec 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39215