TMI Blog2013 (8) TMI 1042X X X X Extracts X X X X X X X X Extracts X X X X ..... which was more than tax payable as per returned income. 2) Learned A C CIT Central Circle -2(3) Pune erred in charging interest Honourable CIT(A) Central Circle unjustified in confirming the interest U/s. 234B as the cash seized (i.e. 08-08-2008) was much before due date of advance tax payable for the A.Y. 2009-2010. 3) Learned A C CIT Central Circle -2(3) Pune erred in charging interest Honourable CIT(A) Central Circle unjustified in confirming the Interest U/S.234C as the cash seized (i.e. 08-08-2008) was much before March 2009 and before the due dates of advance tax payable for the A.Y. 2009-2010. Hence interest charged U/S.234A B C are unjustified wrong which may be cancelled. 2. The short issue in controversy is whet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid cash was offered. The assessee challenged the action of the Assessing Officer for levying interest u/s. 234A, 234B and 234C before the Ld. CIT(A) but without any success. The Ld. CIT(A) rejected the contention of the assessee on the premises that the assessee has not made the specific request for adjustment of the seized cash against the various installments of the advance tax. It is observed by the Ld. CIT(A) that in the statement u/s. 132(4) only the assessee requested to adjust the seized cash against his tax liability. Now the assessee is in appeal before us. 4. We have heard the rival submissions of the parties and perused the record. The facts are not in dispute. The Learned Counsel placed his reliance on the following two deci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In the said case, in the search and seizure action cash amounting to ₹ 18 lacs was to be seized. The assessee also paid sum of ₹ 1.98 crores by pay order dated 31-03-2007. The assessee requested that the cash seized of ₹ 18 lacs and pay order amounting to ₹ 1.98 crores paid by the assessee be adjusted towards the advance tax payable on the additional income declared by the assessee. During the course of search in the said case also the additional income offered by the assessee has been accepted but without giving the benefit of ₹ 18 lacs seized during the course of search and ₹ 1.98 crore paid by the assessee towards the advance tax. The interest was charged u/s. 234A, 234B and 234C of the Income-tax Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed cash may be adjusted against the tax liability arising out of the disclosure. The assessee was levied the interest u/s. 234A, 234B and 234C discarding the request made by him. The matter was carried to the Tribunal and the Tribunal deleted the interest levied. The Department carried the matter further before the Hon'ble High Court and the Hon'ble High Court confirmed the order of the Tribunal deleting the interest levied by the Assessing Officer to the extent of cash seized ₹ 42 lacs. In our opinion, the assessee s case is squarely covered by the decision cited (supra). As per the assessment order we find that total income tax payable as per the assessment order is to the extent of ₹ 39,53,215/- which is more less tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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