Prior to 1.6.2013 Seized cash allowed to be Adjusted towards Advance Tax

Provision of Explanation 2 to Section 132(B)(4) which excludes advance tax from the ambit of existing liability is applicable from 1st June 2013 and not applicable to the assessment years involved in this appeal.  In the background aforesaid discussion of precedent we find that assessee was entitled to adjustment of cash seized and offered for taxation towards its liability for taxes including advance tax. FULL TEXT OF THE ITAT ORDER These are appeals by the assessee are directed against separate orders of Ld. CIT-A. Since the issues are common and the appeals were heard together, these are...