( 1 ) AT the instance of the assessee, Messrs Garg and Company, the income-tax Appellate Tribunal Delhi Bench *b REFERRED TO to this Court under section 256 (1) of the Income-tax Act. 1961, the following questions :

" (1) Whether on the facts and in. the circumstances of the case and on a correct interpretation of the provisions of section 139 (4) of the Income-tax Act, 1961, interest could be legally charged on the assessee as provided in proviso (iii) of section 139 (1) of the Act?

(2) Whether on the facts and in the circumstances of the case, the Tribunal was legally right in holding that subsection (4) of section 139 of the Income-tax Act, 1961 does not require an assessee to apply for extension of time for filing its return of income as a condition precedent for charging of interest as provided in proviso (iii) of section 139 (1) of the Income-tax Act, 1961?"

( 2 ) THE assessment year in question is 1962-63 corresponding to the previous year ending on March 31, 1962. The assessee is a registered firm carrying on business of building contractor. The due date for filing the return of income was November 30, 1962, but it was filed on February 14, 1966. There was, t