2013 (2) TMI 813

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....R. Mody with Aasifa Khan for the respondent. JUDGEMENT 1. In this appeal by the revenue, following question has been raised for our consideration :- " Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in directing the A.O. to treat the date of seizure as the date of payment of advance tax, for computation of interest payable u/s.234A, 2....

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....during the course of search may be adjusted towards the tax liability. In these circumstances, the Tribunal held that the amounts found in the course of search should be treated as payment of advance tax and the interest under Sections 234A, 234B & 234C is not chargeable on the amount of Rs. 41 lakhs. 4. Counsel for the respondent-assessee states that the issue arising in the present case is co....

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....n written. The Tribunal in the impugned order records a fact that in a statement recorded during the course of the search, the respondent-assessee had clearly stated that the amount found during the course of search should be adjusted against his tax liability. Admittedly, the seized amount of Rs. 41 lakhs was with the revenue at all times from the date of seizure in July, 2006. In this view of th....