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2005 (5) TMI 58 - HC - Income TaxInterest charged under sections 234B and 234C - Feeling aggrieved, both the assessees prayed that interest was wrongly charged because requests had earlier been made to adjust the amount seized in cash against the impending advance tax liability - It must also be noted that the Revenue accepted the return filed by the assessees and, in fact, it was found that they were entitled to a refund, which was more than the amount of cash that was seized – Thus, we do not find any error of law having been committed by the Tribunal in accepting the contentions urged by the assessees - since there is nothing to prohibit the asses sees from making a request for adjustment of the cash seized against advance tax liabilities, equity demands that the cash amount ought to have been adjusted as prayed for by the assessees to save it from any liability of interest.
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