https://www.taxtmi.com/caselaws?id=400552 The Tribunal partly allowed the appeal in a tax case. It granted exemption under Section 54F for the amount deposited in the Capital Gains Account Scheme (CGAS) but upheld the rejection of exemption for the amount seized and kept in the PD account. The assessment's validity was affirmed despite a typographical error in the notice under Section 143(2). The Tribunal upheld the levy of interest under Section 234B, stating that the seized amount cannot be equated with advance tax payments. en-us Thu, 05 Nov 2020 00:00:00 +0530 Mon, 09 Nov 2020 09:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400552 The Tribunal partly allowed the appeal in a tax case. It granted exemption under Section 54F for the amount deposited in the Capital Gains Account Scheme (CGAS) but upheld the rejection of exemption for the amount seized and kept in the PD account. The assessment's validity was affirmed despite a typographical error in the notice under Section 143(2). The Tribunal upheld the levy of interest under Section 234B, stating that the seized amount cannot be equated with advance tax payments. Case-Laws Income Tax Thu, 05 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400552