GANESH DASS SREERAM, ETC. A vs INCOME TAX OFFICER, 'A' WARD, SHILLONG AND OTHERS ETC.

The Supreme Court held that Sub-section (4) of Section 139 of the Income Tax Act, 1961, allows for the charging of interest on delayed returns without requiring an application for extension from the Income Tax officer. The Court clarified that the interest charged is compensatory, not punitive, as established in prior cases such as Central Provinces Manganese Ore Co. Ltd. v. Commissioner of Income-Tax. The Court dismissed the appellants' claims regarding discrimination under Article 14, affirming the legality of the interest provisions as they apply to registered firms.