https://www.taxtmi.com/caselaws?id=185450 The appeal was filed by the Revenue against the rejection of the assessee's application under section 154 for adjusting the seized amount against advance tax liability. The CIT(A) accepted the assessee's explanation, directing the deletion of interest charged under sections 234A and 234B. The interpretation of section 132B(1) was in favor of the assessee, considering advance tax demand as an existing liability. Consequently, interest charges under sections 234B and 234C were deleted. The Revenue's request to amend grounds of appeal was dismissed by the Appellate Tribunal, affirming the deletion of interest charges and upholding the CIT(A)'s decision. en-us Thu, 04 Oct 2012 00:00:00 +0530 Fri, 12 Aug 2016 18:45:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185450 The appeal was filed by the Revenue against the rejection of the assessee's application under section 154 for adjusting the seized amount against advance tax liability. The CIT(A) accepted the assessee's explanation, directing the deletion of interest charged under sections 234A and 234B. The interpretation of section 132B(1) was in favor of the assessee, considering advance tax demand as an existing liability. Consequently, interest charges under sections 234B and 234C were deleted. The Revenue's request to amend grounds of appeal was dismissed by the Appellate Tribunal, affirming the deletion of interest charges and upholding the CIT(A)'s decision. Case-Laws Income Tax Thu, 04 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185450