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2013 (7) TMI 19 - ITAT AHMEDABADInterest u/s 234B and 234C - money seized during the search operation - whether be adjusted against the assessed tax as self assessment or advance tax - Held that:- If the assessee has declared income, during the year under consideration in that eventuality he is liable to pay advance tax as per law therefore the A.O. is required to find out whether such liability was existing on the date of seizure. If such liability is existing then he is empowered to apply/adjust the money seized in discharge of the existing liability even without any written representation from the assessee. Thus allow the appeal of the assessee and direct the A.O. to give credit of Rs.8 lakhs as advance tax as requested by the appellant.
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