https://www.taxtmi.com/caselaws?id=411835 The Tribunal dismissed the Revenue's appeals and allowed the assessee's appeal on August 25, 2021. The Revenue's appeal regarding the denial of applying seized cash during a survey was rejected, as the seized cash could not be adjusted against advance tax under Sections 234A, 234B, and 234C. Additionally, the Tribunal ruled in favor of the assessee in adjusting the aforementioned interest against seized cash. Regarding the Section 271AAB penalty, both the Revenue's and assessee's cross-appeals were considered, with the Tribunal finding no basis to uphold the penalty due to lack of clarity in the penalty order. en-us Wed, 25 Aug 2021 00:00:00 +0530 Sat, 04 Sep 2021 21:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411835 The Tribunal dismissed the Revenue's appeals and allowed the assessee's appeal on August 25, 2021. The Revenue's appeal regarding the denial of applying seized cash during a survey was rejected, as the seized cash could not be adjusted against advance tax under Sections 234A, 234B, and 234C. Additionally, the Tribunal ruled in favor of the assessee in adjusting the aforementioned interest against seized cash. Regarding the Section 271AAB penalty, both the Revenue's and assessee's cross-appeals were considered, with the Tribunal finding no basis to uphold the penalty due to lack of clarity in the penalty order. Case-Laws Income Tax Wed, 25 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411835