https://www.taxtmi.com/caselaws?id=470340 Advance tax paid for an earlier assessment year may be credited against tax liability for the later assessment year in which a capital-asset transfer is ultimately settled, where the transfer could not be completed earlier because of civil disputes and no credit for the payment was claimed otherwise. The adjustment applies because the taxable liability arose only upon ultimate settlement in the later year. The assessee is entitled to credit of the earlier advance-tax payment against that relevant year's liability. 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 for an earlier assessment year may be credited against tax liability for the later assessment year in which a capital-asset transfer is ultimately settled, where the transfer could not be completed earlier because of civil disputes and no credit for the payment was claimed otherwise. The adjustment applies because the taxable liability arose only upon ultimate settlement in the later year. The assessee is entitled to credit of the earlier advance-tax payment against that relevant year's liability. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470340