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2014 (11) TMI 938 - JHARKHAND HIGH COURTDirection to give credit of amount w.e.f 28.02.2009 – Calculation of amount of interest u/s 234A, 234B, 234C – Held that:- Revenue contended that explanation 2 to Section 132B(4)(a) of the Act clearly states that for the removal of doubts and that “existing liability” does not include advance tax payable in accordance with the provisions of Part-C of Chapter-XVII” and therefore the amount of ₹ 27,00,000/- seized, has to be calculated as per Section 132B(4)(a) of the Act and the same cannot be taken as advance tax from the date of seizure of the amount – revenue is directed to consider the application of assessee in accordance with the provisions of the Income Tax Act and in the decision of Shri Mahesh Choudhary Versus Commissioner of Income Tax, Bihar II, Ranchi [2014 (11) TMI 906 - JHARKHAND HIGH COURT] - the assessee is directed to appear before the 3rd respondent - Decided in favour of assessee.
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