HC : Upholds Single Judge, issuance of SCN sine-qua-non for recovery of interest u/s 50

Karnataka HC (Division Bench) concurs with Single Judge, holds that issuance of SCN is sine qua non to proceed with recovery of interest payable u/s 50 and levying penalty; Highlighting that “Consequence of demanding interest and non-payment thereof is very drastic”, reasons that, “… before penalizing the assessee by making him pay interest, the principles of natural justice ought to be complied with ….”;  Points out that, the assessee is entitled to be heard...