2014 (10) TMI 585

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....ate ORDER Rajive Bhalla, J (Oral) C.M.No.16670-CII of 2014 Prayer in this application is to condone delay of 24 days in re-filing the appeal. We have heard counsel for the appellant and as sufficient cause has been shown, allow the application and condone the delay of 24 days in re-filing the appeal. C.M.No.16671-CII of 2014 Allowed as prayed for. Income Tax Appeal No.261 o....

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....n the circumstances of the case, Hon'ble ITAT is justified in not appreciating the fact that the amount seized under Section 132B can only be adjusted against the existing liability and not against advance tax liability. 3. Whether on the facts and in the circumstances of the case, the Hon'ble Income Tax Appellate Tribunal is legally correct in upholding the order of Commissioner of Inc....

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....or the revenue. The Tribunal has answered the question of chargeability of interest, against the revenue by relying upon a judgment of this Court in Income Tax Appeal No.36 of 2004 (Commissioner of Income Tax v. Ashok Kumar) (supra). The argument by counsel for the revenue, based upon explanation (2) to Section 132B of the Act disregards the fact that the explanation came into force on 01.06.2013,....