https://www.taxtmi.com/caselaws?id=395219 The Tribunal dismissed the appeals filed by the assessees for the assessment year 2014-15, confirming the order passed by the Commissioner of Income Tax (Appeals). It held that the seized cash could not be adjusted against the tax liability as the assessee did not formally request the adjustment to the Department. The Tribunal emphasized the necessity of formal communication for such adjustments, citing relevant case laws supporting the requirement for specific applications in similar situations. Consequently, interest could be levied on the outstanding demand due to the lack of intimation for adjustment. en-us Tue, 18 Feb 2020 00:00:00 +0530 Tue, 12 May 2020 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395219 The Tribunal dismissed the appeals filed by the assessees for the assessment year 2014-15, confirming the order passed by the Commissioner of Income Tax (Appeals). It held that the seized cash could not be adjusted against the tax liability as the assessee did not formally request the adjustment to the Department. The Tribunal emphasized the necessity of formal communication for such adjustments, citing relevant case laws supporting the requirement for specific applications in similar situations. Consequently, interest could be levied on the outstanding demand due to the lack of intimation for adjustment. Case-Laws Income Tax Tue, 18 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395219