TaxTMI 
TaxTMI 
2013 (11) TMI 1376
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....ra). Further, we find that the Revenue had preferred an appeal before the Supreme Court, but did not press the same as per the decision in CIT Vs. Prannoy Roy and Another, 2009 (309) ITR 231. The view/ratio of the Delhi High Court decision has been affirmed. The said decision of the Supreme Court was pronounced on 17th September, 2008, whereas the decision of the Gujarat High Court in Roshan Lal S. Jain (supra) was pronounced on 23rd September, 2008 and decision of the Supreme Court was not noticed. The facts of the present case are that the respondent-assessee had filed return of income on 14th December, 2008 for assessment year 2007-08, though the due date for filing of the return was 15th November, 2007. Thus, there was delay of nearly ....
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....the net he is caught, otherwise he has to go free. This principle in law is settled by this court in India Carbon Ltd. v. State of Assam [1997] 106 STC 460 ; [1997] 6 SCC 479 wherein this court held (page 464) : 'Interest can be levied and charged on delayed payment of tax only if the statute that levies and charges the tax makes a substantive provision in this behalf.' A Constitution Bench of this court, speaking through one of us (S. P. Bharucha J.) in the case of V. V. S. Sugars v. Government of A. P. [1999] 114 STC 47 ; [1999] 4 SCC 192 reiterated the proposition laid down in India Carbon Ltd.'s case [1997] 106 STC 460 in the following words (headnote of [1999] 4 SCC) : 'The Act in question is a taxing statute and, therefore, must be in....
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....est cannot be charged when no tax is outstanding. Yet again in Ganesh Dass Sreeram v. ITO [1988] 169 ITR 221, it has been held (headnote) : "Where the advance tax duly paid covers the entire amount of tax assessed, there is no question of charging the registered firm with interest even though the return is filed by it beyond the time allowed, regard being had to the fact that payment of interest is only compensatory in nature. As the entire amount of tax is paid by way of advance tax, the question of payment of any compensation does not arise." Penalty cannot be imposed in the absence of a clear provision. Imposition of penalty would ordinarily attract compliance with the principles of natural justice. It in cer....