M/S.K. GOVINDAN & SONS vs C.I.T.,COCHIN

The Supreme Court addressed whether interest could be charged under Section 139(8) of the Income Tax Act, 1961 during an assessment made under Section 147. The Court held that an assessment under Section 147 is considered a 'regular assessment' as per the definition in Section 2(40), thus allowing the assessing authority to levy interest for default in filing returns. The judgment of the High Court was upheld, confirming the validity of interest charges under Section 139(8) in such assessments.