https://www.taxtmi.com/caselaws?id=347239 The Court held in favor of the petitioners, directing the Income Tax Department to adjust the cash seized during a search operation against their advance tax liability. The Court considered a circular issued by the Central Board of Direct Taxes, which clarified that adjustments against advance tax should be allowed. The Department was instructed to grant the benefit of the circular to the petitioners and allow the adjustments from the date of their initial requests. The petitions were allowed without costs, and pending applications were disposed of accordingly. en-us Tue, 22 Aug 2017 00:00:00 +0530 Thu, 31 Aug 2017 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347239 The Court held in favor of the petitioners, directing the Income Tax Department to adjust the cash seized during a search operation against their advance tax liability. The Court considered a circular issued by the Central Board of Direct Taxes, which clarified that adjustments against advance tax should be allowed. The Department was instructed to grant the benefit of the circular to the petitioners and allow the adjustments from the date of their initial requests. The petitions were allowed without costs, and pending applications were disposed of accordingly. Case-Laws Income Tax Tue, 22 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347239