Scope of Sec.139(8).

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..... minimum not liable to tax, interest u/s.139(8) will nevertheless be chargeable on the tax which would have been payable if the firm had been assessed as an unregistered firm. 2. Instances have come to the notice of the board where the Appellate Assistant Commissioners/ITAT have taken the view that there is no liability to interest u/s.139(8) in the case of a registered firm when the advance tax p .....

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..... ime does not arise. The treatment given to assessees, other than firms cannot be cited in support of a view which would qualify the explanation 2 to sec.139(8) of the act which deals with firms. The legal position is that registration of a firm makes no difference for computation of taxable income and is relevant only for determining tax payable. It is well settled that in a taxation provision, if .....

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