https://www.taxtmi.com/caselaws?id=241599 The Tribunal affirmed the Commissioner's decision to treat seized cash as advance tax for re-computing interest under sections 234B and 234C of the Income Tax Act, 1961. The appeal by the Revenue was dismissed as the Assessing Officer was deemed unjustified in not crediting the seized amount as advance tax, following established precedents allowing adjustment of seized cash against advance tax liability upon the assessee's request. The Tribunal upheld the Commissioner's order, emphasizing the correctness of treating the seized cash as advance tax and dismissing the Revenue's appeal. en-us Thu, 07 Feb 2013 00:00:00 +0530 Fri, 27 Dec 2013 13:06:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241599 The Tribunal affirmed the Commissioner's decision to treat seized cash as advance tax for re-computing interest under sections 234B and 234C of the Income Tax Act, 1961. The appeal by the Revenue was dismissed as the Assessing Officer was deemed unjustified in not crediting the seized amount as advance tax, following established precedents allowing adjustment of seized cash against advance tax liability upon the assessee's request. The Tribunal upheld the Commissioner's order, emphasizing the correctness of treating the seized cash as advance tax and dismissing the Revenue's appeal. Case-Laws Income Tax Thu, 07 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241599