https://www.taxtmi.com/caselaws?id=470340 Advance tax paid in an earlier financial year for an intended capital-asset transfer may be credited against tax liability in the later assessment year when the transfer is ultimately settled. Where civil disputes prevented completion of the transfer in the earlier year and no credit for the payment was otherwise claimed, the payment should be adjusted against the liability arising in the year of settlement. The notes state that the assessee is entitled to such credit in the relevant assessment year. en-us Wed, 19 Mar 2025 00:00:00 +0530 Thu, 23 Jul 2026 20:51:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470340 Advance tax paid in an earlier financial year for an intended capital-asset transfer may be credited against tax liability in the later assessment year when the transfer is ultimately settled. Where civil disputes prevented completion of the transfer in the earlier year and no credit for the payment was otherwise claimed, the payment should be adjusted against the liability arising in the year of settlement. The notes state that the assessee is entitled to such credit in the relevant assessment year. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470340