https://www.taxtmi.com/caselaws?id=207555 HC held that cash seized in a search under s.132 can be adjusted towards the assessee's advance tax liability from the date of a specific request for such adjustment. Relying on earlier precedent, HC noted that the assessee requested adjustment of Rs. 3,14,312 out of Rs. 5,90,000 seized on 28 August 1989, prior to the due date for the first advance tax instalment (15 September 1989), with a reminder on 12 September 1989. Consequently, no interest under ss.234A and 234B was chargeable. The Tribunal's decision allowing adjustment and deleting interest was upheld, and the Revenue's appeal was dismissed. en-us Thu, 30 Sep 2010 00:00:00 +0530 Thu, 20 Nov 2025 14:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207555 HC held that cash seized in a search under s.132 can be adjusted towards the assessee's advance tax liability from the date of a specific request for such adjustment. Relying on earlier precedent, HC noted that the assessee requested adjustment of Rs. 3,14,312 out of Rs. 5,90,000 seized on 28 August 1989, prior to the due date for the first advance tax instalment (15 September 1989), with a reminder on 12 September 1989. Consequently, no interest under ss.234A and 234B was chargeable. The Tribunal's decision allowing adjustment and deleting interest was upheld, and the Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207555