https://www.taxtmi.com/caselaws?id=752904 The ITAT Delhi held that the assessee was entitled to adjustment of seized fixed deposits against self assessment tax liability from the date of request (11.04.2012), despite filing belated return on 26.03.2013. The tribunal found that any tax payment after the financial year constitutes advance payment of self assessment tax, irrespective of return filing date. The AO was directed to adjust the seized fixed deposit receipts against self assessment tax from 11.04.2012 and recompute interest under section 234B accordingly, while removing the earlier adjustment made towards regular tax arrears. en-us Fri, 17 May 2024 00:00:00 +0530 Tue, 21 May 2024 08:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752904 The ITAT Delhi held that the assessee was entitled to adjustment of seized fixed deposits against self assessment tax liability from the date of request (11.04.2012), despite filing belated return on 26.03.2013. The tribunal found that any tax payment after the financial year constitutes advance payment of self assessment tax, irrespective of return filing date. The AO was directed to adjust the seized fixed deposit receipts against self assessment tax from 11.04.2012 and recompute interest under section 234B accordingly, while removing the earlier adjustment made towards regular tax arrears. Case-Laws Income Tax Fri, 17 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752904