https://www.taxtmi.com/caselaws?id=65549 The Tribunal allowed the appeal regarding interest under s. 132B(4)(a) of the IT Act, 1961, ruling in favor of the assessee. It held that interest should be granted as the seized cash exceeded the lawful tax liability, emphasizing the need to compensate the assessee for the excess cash retained without legal liability. The AO was directed to compute the interest payable to the assessee. The appeal on interest under s. 244A(1)(b) was not pressed and dismissed accordingly. en-us Mon, 30 Nov 2009 00:00:00 +0530 Wed, 16 Feb 2011 15:23:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65549 The Tribunal allowed the appeal regarding interest under s. 132B(4)(a) of the IT Act, 1961, ruling in favor of the assessee. It held that interest should be granted as the seized cash exceeded the lawful tax liability, emphasizing the need to compensate the assessee for the excess cash retained without legal liability. The AO was directed to compute the interest payable to the assessee. The appeal on interest under s. 244A(1)(b) was not pressed and dismissed accordingly. Case-Laws Income Tax Mon, 30 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65549