https://www.taxtmi.com/caselaws?id=330616 The High Court upheld the Tribunal's decision, ruling that the levy of interest under Section 158BFA(1) for delayed filing of the return is mandatory. The Court emphasized that the appellant failed to seek adjustment of the seized cash within the required period and referenced relevant case law to support its decision. The appeal was dismissed, confirming the mandatory nature of the interest levy without the possibility of adjustment against the seized amount. en-us Tue, 26 Jul 2016 00:00:00 +0530 Thu, 17 Nov 2016 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330616 The High Court upheld the Tribunal's decision, ruling that the levy of interest under Section 158BFA(1) for delayed filing of the return is mandatory. The Court emphasized that the appellant failed to seek adjustment of the seized cash within the required period and referenced relevant case law to support its decision. The appeal was dismissed, confirming the mandatory nature of the interest levy without the possibility of adjustment against the seized amount. Case-Laws Income Tax Tue, 26 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330616