https://www.taxtmi.com/caselaws?id=264499 The Tribunal upheld the CIT(Appeals) decision, allowing the adjustment of seized cash towards the assessee's advance tax liability, citing the binding nature of the jurisdictional High Court's ruling. The Revenue's appeal was dismissed, emphasizing that the Revenue cannot retain excess tax paid without proper liability or negate judicial decisions through retrospective amendments. The Tribunal concluded that the Explanation to Section 132B was prospective and aimed to subvert the High Court's decision without altering its statutory basis. en-us Tue, 30 Jun 2015 00:00:00 +0530 Sat, 26 Sep 2015 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264499 The Tribunal upheld the CIT(Appeals) decision, allowing the adjustment of seized cash towards the assessee's advance tax liability, citing the binding nature of the jurisdictional High Court's ruling. The Revenue's appeal was dismissed, emphasizing that the Revenue cannot retain excess tax paid without proper liability or negate judicial decisions through retrospective amendments. The Tribunal concluded that the Explanation to Section 132B was prospective and aimed to subvert the High Court's decision without altering its statutory basis. Case-Laws Income Tax Tue, 30 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264499