1. In the case of a person who has not furnished return within time allowed to him under sub-Ss. (1) or (2) of S.139 of the Income Tax Act, if he furnished the return subsequently before the end of the period specified in clause (b) of S.139 (4) of the Income-tax Act is he liable to pay the interest contemplated by sub-clause (iii) of the proviso to sub-section (1) of S.139 of the Act? This is the question that arises for decision in this case. On this question different views have been expressed by the High Courts in India.

2. The petitioner in this case is a firm. It is an assessee to income-tax. The petitioner filed his return of Income for the assessment year 1968-69 only on 28-6-1969 though it was due on 30-6-1968. That there was delay in filing the return was not noticed at the time of assessment for the assessment year 1968-'69. Later it was noticed by the Commissioner of Income-tax who took up suo mote revision. He held that the assessment was erroneous in so far as the assessing authority had failed to levy interest under S.139 of the Act, and therefore the matter was remitted to the Income-tax officer to enable him to deal with the case in regard to the levy of