Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (6) TMI 280 - AT - Income TaxComputation of interest u/s 234A and 234B of the Act - Credit of the amount seized as advance payment of tax – Held that:- Following S.Duraipandi & S.Thalavaipandian Vs. ACIT [2013 (12) TMI 998 - ITAT CHENNAI] - seized amount shall be treated as advance tax paid provided the assessee authorizes the department to appropriate the seized amount towards such tax liability - the seized amount shall be treated as payment of advance tax on the date of seizure itself. The contention of the assessee regarding date of intimation to treat the seized amount as advance tax is concerned, the assessee has placed on record copies of the communication dt.16-11-2010 and 30-11-2010 along with photocopies of Department inward register - A perusal of same shows that both the intimations were received in the office of Revenue – thus, the matter is remitted back to the AO for verification of intimation and its acknowledgement, before granting the aforesaid relief – Decided in favour of Assessee.
|