2013 (8) TMI 1042

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....ming the interest U/S.234A, as before filing of returns, taxes were paid which was more than tax payable as per returned income. 2) Learned A C CIT Central Circle -2(3) Pune erred in charging interest & Honourable CIT(A) Central Circle unjustified in confirming the interest U/s. 234B as the cash seized (i.e. 08-08-2008) was much before due date of advance tax payable for the A.Y. 2009-2010. 3) Learned A C CIT Central Circle -2(3) Pune erred in charging interest & Honourable CIT(A) Central Circle unjustified in confirming the Interest U/S.234C as the cash seized (i.e. 08-08-2008) was much before March 2009 and before the due dates of advance tax payable for the A.Y. 2009-2010. Hence interest charged U/S.234A B C are unju....

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....est made by the assesse in the statement given on 08-08-2008 while the said cash was offered. The assessee challenged the action of the Assessing Officer for levying interest u/s. 234A, 234B and 234C before the Ld. CIT(A) but without any success. The Ld. CIT(A) rejected the contention of the assessee on the premises that the assessee has not made the specific request for adjustment of the seized cash against the various installments of the advance tax. It is observed by the Ld. CIT(A) that in the statement u/s. 132(4) only the assessee requested to adjust the seized cash against his tax liability. Now the assessee is in appeal before us. 4. We have heard the rival submissions of the parties and perused the record. The facts are not in di....

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....a B. Mody (supra) the identical issue is considered by their lordships. In the said case, in the search and seizure action cash amounting to Rs. 18 lacs was to be seized. The assessee also paid sum of Rs. 1.98 crores by pay order dated 31-03-2007. The assessee requested that the cash seized of Rs. 18 lacs and pay order amounting to Rs. 1.98 crores paid by the assessee be adjusted towards the advance tax payable on the additional income declared by the assessee. During the course of search in the said case also the additional income offered by the assessee has been accepted but without giving the benefit of Rs. 18 lacs seized during the course of search and Rs. 1.98 crore paid by the assessee towards the advance tax. The interest was charged....