https://www.taxtmi.com/caselaws?id=248376 The Tribunal accepted the explanations for the delay in filing appeals and condoned it, allowing the appeals to proceed. It directed the Assessing Officer to treat the seized amount as advance tax paid on the date of seizure itself, following a similar precedent. The Tribunal instructed verification of the intimations provided by the assessees to adjust the seized amount towards advance tax and granted relief if found authentic, emphasizing timely intimation for such adjustments. The appeals were allowed for statistical purposes, stressing the significance of treating seized amounts as advance tax and timely communication with authorities. en-us Fri, 23 May 2014 00:00:00 +0530 Fri, 05 Aug 2022 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248376 The Tribunal accepted the explanations for the delay in filing appeals and condoned it, allowing the appeals to proceed. It directed the Assessing Officer to treat the seized amount as advance tax paid on the date of seizure itself, following a similar precedent. The Tribunal instructed verification of the intimations provided by the assessees to adjust the seized amount towards advance tax and granted relief if found authentic, emphasizing timely intimation for such adjustments. The appeals were allowed for statistical purposes, stressing the significance of treating seized amounts as advance tax and timely communication with authorities. Case-Laws Income Tax Fri, 23 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248376