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Interest on late filing of return u/s 158BC is mandatory leviable on persons other than searched persons
Case Law Details
- Case Name
- K.L. Swamy Vs Commissioner of Income Tax & Anr (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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K.L. Swamy Vs Commissioner of Income Tax & Anr (Supreme Court of India)
Supreme Court held that persons other than searched persons shall be liable to pay the interest on late filing of the return under Section 158BC even in absence of a notice under Section 158BC of the Income Tax Act.
Facts- In the present appeal, the dispute is with respect to levy of interest under Section 158BFA(1) of the Income Tax Act in respect of assessment completed under Section 158BD of the Act for belatedly filing the return of income for the block period and also the levy of surcharge under Section 113 of the...
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