2020 (5) TMI 252

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.... under section 154 of the Income Tax Act, 1961 (in short the 'Act') all dated 15.06.2017. 2. Since, the issues involved in all the appeals are common and identical; therefore, these appeals have been heard together and are being disposed of by this consolidated order. For the sake of convenience, the grounds as well as the facts narrated assessee's appeal, in ITA No. 411/ASR/2018, for AY 2014-15have been taken into consideration for deciding the above appeals en masse. 3.The solitary grievance of the assessees in these appeals are that the cash amount seized during the search operation should to be adjusted against tax/advance tax payable by assessee, with effect from 05.09.2013, i.e. the date of search. 4. We heard both the parties and ....

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....ing the seized amount, therefore no any interest should be levied and the assessee has voluntarily offered the seized amount to be adjusted against his income tax liability, by filing the income tax return and computation of income tax (vide page no. 9 and 10 of paper book). We have gone through the income tax return and computation of income tax (vide page no. 9 and 10 of paper book) filed by the assessee and we note that it is one sided approach adopted by the assessee just to cheat the Department by demonstrating that assessee has suo-moto adjusted the seized cash towards his advance tax/tax liability. We note that just to make an entry in the Return of Income, suo-moto, without intimating to the Department, is not a compliance. Hence,....

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....unting 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 u/s. 234A, 234B and 234C of the Income-tax Act. The Tribunal deleted the said interest. The revenue has carried the matter before....