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of <h1>Seized Cash Cannot Be Adjusted Against Advance Tax Liability in Same Year as Search, Clarifies Tax Board</h1> The circular clarifies that seized cash cannot be adjusted against advance tax liability for the year in which a search occurred. In response to a reference from DGIT (Investigation) Jaipur, the Income Tax Board determined that existing legal provisions do not permit applying seized cash toward an assessee's advance tax obligations for the same year as the search. This directive was issued on July 13, 2006 to all Director Generals of Income Tax (Investigation).
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