https://www.taxtmi.com/caselaws?id=343907 The Tribunal allowed the appeal of the assessee, directing the AO to adjust the seized cash against the advance tax liability from the date of the assessee's request. It held that the amendment by Finance Act 2013 is prospective and not applicable to the assessment year in question. The interest under Sections 234B and 234C should be recalculated considering the adjustment of seized cash. The Tribunal concluded that the seized cash should be adjusted against the advance tax liability, rectifying the AO's order under Section 154 and allowing the assessee's appeal. en-us Wed, 31 May 2017 00:00:00 +0530 Mon, 05 Jun 2017 07:10:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343907 The Tribunal allowed the appeal of the assessee, directing the AO to adjust the seized cash against the advance tax liability from the date of the assessee's request. It held that the amendment by Finance Act 2013 is prospective and not applicable to the assessment year in question. The interest under Sections 234B and 234C should be recalculated considering the adjustment of seized cash. The Tribunal concluded that the seized cash should be adjusted against the advance tax liability, rectifying the AO's order under Section 154 and allowing the assessee's appeal. Case-Laws Income Tax Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343907