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2011 (9) TMI 97 - HC - Income TaxAdjustment of seized cash towards Advance Tax Liability - held that:- once the assessee offers to tax the undisclosed income including the amount seized during the search, then the liability to pay advance tax in respect of that amount arises even before the completion of the assessment. Section 132B(1)(i) of the Act does not prohibit utilization of the amount seized during the course of search towards the advance tax payable on the amount of undisclosed income declared during the course of search.
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