Section 141A — the law in short
What the courts have decided on section 141A, in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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Saurashtra Cement and Chemical Industries Ltd v ITO
High CourtHelps department
The Tribunal has annulled my client's assessment as time-barred. Does he get back the whole of the advance tax, TDS and self-assessment tax he had paid?
No. What Chapter XIX refunds is only the amount paid wrongly or in excess of what is properly chargeable under the Act; it does not authorise refund of tax that was properly collected. The failure of the regular assessment — whether by annulment or by its becoming time-barred — does not turn tax payable on the assessee's own returned income into tax wrongly collected.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.