https://www.taxtmi.com/caselaws?id=241445 Where the assessment order did not decide appropriation of seized cash, a rectification application under section 154 was maintainable because the issue had not been adjudicated on merits. The ruling further states that section 132B permits excess seized cash to be adjusted against future tax liability at the assessee's request after the statutory retention period, rather than by any automatic obligation on the revenue. Interest on the retained excess is to be reworked from the day after expiry of the 120-day period, or from the date of the request if made later. The appeal was partly allowed with directions to recompute interest accordingly. en-us Thu, 28 Feb 2013 00:00:00 +0530 Tue, 24 Dec 2013 06:18:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241445 Where the assessment order did not decide appropriation of seized cash, a rectification application under section 154 was maintainable because the issue had not been adjudicated on merits. The ruling further states that section 132B permits excess seized cash to be adjusted against future tax liability at the assessee's request after the statutory retention period, rather than by any automatic obligation on the revenue. Interest on the retained excess is to be reworked from the day after expiry of the 120-day period, or from the date of the request if made later. The appeal was partly allowed with directions to recompute interest accordingly. Case-Laws Income Tax Thu, 28 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241445