1997 (7) TMI 48

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.... submitted in view of the provisions contained in section 140A of the Income-tax Act, 1961 (for short "the Act"). However, the Income-tax Officer determined the income for the years 1975-76 and 1976-77 under the regular assessment. For the assessment year 1975-76, the officer determined the income of the firm as Rs. 1,26,360 and for the year 1976-77, as Rs. 1,04,838. Being aggrieved by the additions made by the officer, the assessee filed appeals and the Commissioner of Income-tax set aside the additions made by the Income-tax Officer. Exhibit P-1 is the copy of the order passed by the Commissioner of Income-tax in the appeals. Since fresh assessments were not made pursuant to exhibit P-1 order, the petitioner filed exhibit P-2 representati....

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....ted income furnished in the self-assessment and the payment of tax on such income before furnishing the return. As aforesaid, the petitioner had paid the tax before submitting the return under section 140A. That the setting aside of the regular assessment does not mean that the self-assessment made under section 140A has been set aside. Even if the regular assessment is declared to be void, it has no effect on the self-assessment made under section 140A. The direction to refund the tax paid on regular assessment does not mean that the tax paid along with the return under section 140A shall be refunded, because the payment of tax under self-assessment is on the admitted income returned by the assessee. When tax has been paid on the admitted ....