Case Law Details
Ashok Kumar Aggarwal Vs ACIT (Delhi High Court)
Delhi High Court held that there was no default in payment of advance tax as seized cash was offered by the assessee to be treated as advance tax.
Facts- The present writ petition has been preferred by the petitioner based on two grievances i.e. First, that the amount seized during the search action carried out u/s. 132 of the Income Tax Act, 1961 has not been treated as advance tax, although such representation was made by him from time to time. Second, which is really a consequence of the first grievance, that the respondents/revenue having treated the amount seized as money paid towards self-assessment tax has gone on to levy interest u/s. 234A, 234B and 234C of the Act.
Conclusion- Held that the ROI was filed, though after the search. The seized cash was offered by the assessee, under the regime which was prevailing then, to be treated as the advance tax and thus there was no default in the payment of the advance; although its payment /adjustment was triggered due to a search action, Lastly, for the same reason, it cannot be said there was a deferment of payment of advance tax.
FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT
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