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Cash seized should be adjusted advance-tax liability from the date of seizure
Case Law Details
- Case Name
- Shri Ram S Sarda Vs Dy. CIT, Cent. Cir. II (ITAT Rajkot)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Rajkot
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Shri Ram S Sarda Vs DCIT (ITAT Rajkot)- ITAT, Mumbai Bench in the case of Sudhakar M Shetty vs ACIT held that the department has to adjust the seized amount towards the advance-tax from the date when it was seized and accordingly directed the assessing officer to adjust the seized cash from the date of seizure. In the case under consideration we find that the assessee claimed adjustment of seized cash in the return of income filed by the assessee.
The assessee also made the request for the adjustment of cash seized against the advance-tax with effect from 21-02-2008 vide letter dated 30-07-...
