https://www.taxtmi.com/caselaws?id=234861 The Tribunal allowed the appeal and directed the Assessing Officer to credit Rs.8 lakhs as advance tax, clarifying the treatment of seized money as advance tax liability. The decision aligned with relevant provisions of the Income Tax Act and supported by precedents, resolving the issue in favor of the appellant. Compliance with advance tax obligations and the applicability of seized assets in discharging tax liabilities were emphasized, ensuring a fair outcome for the appellant regarding the charging of interest under sections 234B and 234C. en-us Fri, 20 Apr 2012 00:00:00 +0530 Mon, 01 Jul 2013 14:38:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234861 The Tribunal allowed the appeal and directed the Assessing Officer to credit Rs.8 lakhs as advance tax, clarifying the treatment of seized money as advance tax liability. The decision aligned with relevant provisions of the Income Tax Act and supported by precedents, resolving the issue in favor of the appellant. Compliance with advance tax obligations and the applicability of seized assets in discharging tax liabilities were emphasized, ensuring a fair outcome for the appellant regarding the charging of interest under sections 234B and 234C. Case-Laws Income Tax Fri, 20 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234861