https://www.taxtmi.com/caselaws?id=464816 ITAT DELHI - AT dismissed the revenue's appeal, upholding the CIT(A) that seized cash must be credited against the assessee's self-assessment tax. The Tribunal held the amendment to s.132B is prospective from 1.6.2013 and in any event the assessee sought adjustment only against self-assessment, not advance tax. The AO's attempt to revoke the adjustment via s.154 was improper because the legality of adjusting seized cash is a highly debatable issue. No interest under ss.234B/234C was chargeable from date of seizure to completion of assessment for AY 2006-07. en-us Thu, 18 Jan 2018 00:00:00 +0530 Mon, 17 Nov 2025 13:31:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464816 ITAT DELHI - AT dismissed the revenue's appeal, upholding the CIT(A) that seized cash must be credited against the assessee's self-assessment tax. The Tribunal held the amendment to s.132B is prospective from 1.6.2013 and in any event the assessee sought adjustment only against self-assessment, not advance tax. The AO's attempt to revoke the adjustment via s.154 was improper because the legality of adjusting seized cash is a highly debatable issue. No interest under ss.234B/234C was chargeable from date of seizure to completion of assessment for AY 2006-07. Case-Laws Income Tax Thu, 18 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464816