https://www.taxtmi.com/caselaws?id=62954 The Tribunal upheld the orders of the CIT(A), ruling that seized cash cannot be automatically considered as advance tax payment. The adjustment of seized cash against tax liability should relate back to the date of the order under section 132(5). The Tribunal affirmed that interest should be charged by the Assessing Officer up to the date of the order under section 132(5) on the total income tax amount and thereafter on the remaining balance. As a result, all appeals from both the assessee and the revenue were dismissed. en-us Wed, 11 Jul 2001 00:00:00 +0530 Tue, 25 Jan 2011 18:21:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62954 The Tribunal upheld the orders of the CIT(A), ruling that seized cash cannot be automatically considered as advance tax payment. The adjustment of seized cash against tax liability should relate back to the date of the order under section 132(5). The Tribunal affirmed that interest should be charged by the Assessing Officer up to the date of the order under section 132(5) on the total income tax amount and thereafter on the remaining balance. As a result, all appeals from both the assessee and the revenue were dismissed. Case-Laws Income Tax Wed, 11 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62954