https://www.taxtmi.com/caselaws?id=267253 The tribunal upheld the adjustment of seized cash against self-assessment tax liability, ruling the revocation of this adjustment under section 154 as illegal. It determined that interest under sections 234B and 234C should not be charged for the period from the date of seizure to the date of assessment completion, as the amendment to section 132B is prospective and does not apply to the relevant assessment year. The appeal of the revenue was dismissed, emphasizing the legality of the initial adjustment and the inapplicability of interest charges. en-us Mon, 28 Sep 2015 00:00:00 +0530 Sat, 30 Apr 2016 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267253 The tribunal upheld the adjustment of seized cash against self-assessment tax liability, ruling the revocation of this adjustment under section 154 as illegal. It determined that interest under sections 234B and 234C should not be charged for the period from the date of seizure to the date of assessment completion, as the amendment to section 132B is prospective and does not apply to the relevant assessment year. The appeal of the revenue was dismissed, emphasizing the legality of the initial adjustment and the inapplicability of interest charges. Case-Laws Income Tax Mon, 28 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267253