https://www.taxtmi.com/caselaws?id=17953 The court held in favor of the assessee, directing the Revenue to refund both advance tax and self-assessment tax with interest after the annulment of assessments. It emphasized that self-assessment tax must be refunded if the assessment is annulled, as it is not final until adjudicated by the taxing authority. The court relied on Section 240 of the Income-tax Act, stating that the Revenue has no authority to retain any amount if the assessment is found invalid. The court's decision favored the petitioners, ordering the Department to refund the entire amount retained. en-us Tue, 09 Jul 1996 00:00:00 +0530 Fri, 25 Sep 2009 17:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17953 The court held in favor of the assessee, directing the Revenue to refund both advance tax and self-assessment tax with interest after the annulment of assessments. It emphasized that self-assessment tax must be refunded if the assessment is annulled, as it is not final until adjudicated by the taxing authority. The court relied on Section 240 of the Income-tax Act, stating that the Revenue has no authority to retain any amount if the assessment is found invalid. The court's decision favored the petitioners, ordering the Department to refund the entire amount retained. Case-Laws Income Tax Tue, 09 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17953