TMI Blog2011 (9) TMI 97X X X X Extracts X X X X X X X X Extracts X X X X ..... nt. 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. - 3741 OF 2010 - - - Dated:- 21-9-2011 - J.P. DEVADHAR K.K. TATED, JJ. Mr.Suresh Kumar for the Appellant. Mr.S.J. Mehta for the Respondent. JUDGMENT: (PER J.P.DEVA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .6,32,79,857/including the amount of cash seized during the course of search. Thereafter, the Assessee paid a sum of Rs.1.98 Crores vide pay order dated 31st January, 2007 issued by the HDFC Bank Ltd. in favour of the Director of Income Tax (Inv.)II, Mumbai. By a letter dated 14th March, 2007, the Assessee requested that the cash amounting to Rs.18,00,000/and the pay order amounting to Rs.1.98 Cro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 Challenging the aforesaid order, the Revenue filed the Appeal before the ITAT and the same was dismissed by the impugned order dated 9 th December, 2009. Hence, the Revenue has filed the present Appeal. 7 The basic argument of the Revenue is that under section 132B(1)(i) of the Income Tax Act, 1961, the amount seized during the course of search can be dealt with for discharging the existin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he course of search. In the present case, the assessee, prior to the last date for payment of last installment of advance tax, had in fact by his letter dated 14th March, 2007 requested the assessing officer to adjust the amounts towards the existing advance tax liability. Since advance tax liability is to be computed and paid in accordance with the provisions of the Act even before the completion ..... X X X X Extracts X X X X X X X X Extracts X X X X
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