https://www.taxtmi.com/caselaws?id=63091 Penalty for failure to pay self-assessment tax in time under section 140A(3) could not be sustained because the penalty provision had already been declared ultra vires and therefore unenforceable. The Tribunal rejected the assessee's plea of paucity of funds on the facts, noting that financial inability did not excuse non-payment when liquid funds were available. The decisive point was the invalidity of the penalty-enabling provision itself, so the penalty was deleted. en-us Wed, 17 Sep 1980 00:00:00 +0530 Thu, 27 Jan 2011 17:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63091 Penalty for failure to pay self-assessment tax in time under section 140A(3) could not be sustained because the penalty provision had already been declared ultra vires and therefore unenforceable. The Tribunal rejected the assessee's plea of paucity of funds on the facts, noting that financial inability did not excuse non-payment when liquid funds were available. The decisive point was the invalidity of the penalty-enabling provision itself, so the penalty was deleted. Case-Laws Income Tax Wed, 17 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63091