Self-assessment - Section 140A

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.... (vi) any tax credit claimed to be set-off in accordance with the provisions of section 115JAA or section 115JD. (vii) any tax or interest payable as per the provisions of section 191(2). the assessee shall be liable to pay such tax together with interest and fee payable under any provision of this Act for any delay in furnishing the return or any default or delay in payment of advance tax before furnishing the return. The return shall be accompanied by the proof of payment of such tax, interest and fee. (2) Order of adjustment of amount paid by the assessee Where the amount paid by the assessee under section 140A(1) falls short of the aggregate of the tax, interest and fee as aforesaid, the amount so paid shall f....

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.... assessment or assessment under section 153A After regular assessment under section 143 or section 144 or an assessment under section 153A has been made, any amount paid under section 140A shall be deemed to have been paid towards such regular assessment or assessment. (6) Consequence of failure to pay tax, interest or fee If any assessee fails to pay the whole or any part of such of tax or interest or fees, he shall be deemed to be an assessee in default in respect of such tax or interest or fees remaining unpaid and all the provisions of this Act shall apply accordingly. Important Case Law • Advance tax and self-assessment tax need not be refunded in full on annulment of assessment; refund is due only to the exten....

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....l. Where the statute (as interpreted) entitles the assessee to refund, equitable pleas cannot be invoked to withhold refund in a statutory appeal. [ K. Nagesh Versus Assistant Commissioner of Income-tax, Bangalore 2015 (6) TMI 217 - Karnataka High Court ]  • When if the Assessing Officer is barred from framing a fresh assessment, based on an invalid return, the department, retaining the amount of tax paid on the basis of invalid return without there being any self-assessment/assessment made by the authority under the Act, would violate Article 265 of the Constitution of India. [ SR. Koshti Versus Commissioner of Income-Tax. 2004 (12) TMI 62 - Gujarat High Court ] • Following point to considered ....