https://www.taxtmi.com/caselaws?id=358227 The Income Tax Appellate Tribunal (ITAT) partially allowed the assessee's appeal regarding the seized cash of Rs. 66,80,000. The ITAT directed the Assessing Officer to delete the interest charged under section 234A of the Income Tax Act, 1961, as the seized cash was available with the Income Tax Department from the date of seizure. However, interest under section 234B was upheld for one month only, and interest under section 234C was deemed chargeable due to deferred advance tax payment. The ITAT's decision resulted in the partial allowance of the assessee's appeal. en-us Wed, 04 Apr 2018 00:00:00 +0530 Sat, 07 Apr 2018 07:57:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358227 The Income Tax Appellate Tribunal (ITAT) partially allowed the assessee's appeal regarding the seized cash of Rs. 66,80,000. The ITAT directed the Assessing Officer to delete the interest charged under section 234A of the Income Tax Act, 1961, as the seized cash was available with the Income Tax Department from the date of seizure. However, interest under section 234B was upheld for one month only, and interest under section 234C was deemed chargeable due to deferred advance tax payment. The ITAT's decision resulted in the partial allowance of the assessee's appeal. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358227