TMI Blog2021 (9) TMI 180X X X X Extracts X X X X X X X X Extracts X X X X ..... at the clinching statutory expression advance tax (supra) in Explanation-II thereof does not deemed to have included any interest which is already treated as allowable in sub-section (1)(i) herein above. We therefore find no merit in the Revenue's sole substantive grievance going by the principles of stricter interpretation as per hon'ble apex court's recent landmark judgment in Commissioner of Customs Vs. Dilip Kumar [ 2018 (7) TMI 1826 - SUPREME COURT] . Penalty u/s 271AAB - non specification of charge - HELD THAT:- Assessing Officer's penalty order nowhere specified as to whether the alleged undisclosed income satisfied that the corresponding statutory parameters prescribed in Section 271AAB, Explanation (C)(i)(A) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2018, we find that its sole substantive grievance seeks to revive the Assessing Officer's action denying application of seized cash during survey on 25-02-2014. 3. Learned CIT-DR vehemently reiterated the Revenue's pleadings that the CIT(A) has erred in law and on facts in holding the assessee's cash seized as eligible for adjustment against advance tax along with Section 234A, 234B and 234C interest(s) involving varying sums. She quoted Section 132B, Explanation-2 inserted in the Act, vide Finance Act, 2013 w.e.f. 01-06-2013 that an existing liability does not include advance tax payable in accordance with the provisions of part-C. She further sought to buttress the point that the CBDT has also issued its circular dt. 06-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... luded any interest which is already treated as allowable in sub-section (1)(i) herein above. We therefore find no merit in the Revenue's sole substantive grievance going by the principles of stricter interpretation as per hon'ble apex court's recent landmark judgment in Commissioner of Customs Vs. Dilip Kumar (2018) 9 SCC 1 (FB)(SC). We thus adopt the very principle mutatis mutandis to reject Revenue's instant sole grievance as well as the earlier appeal ITA No. 1250/Hyd/2018. 5. Next comes the Revenue's and assessee's cross appeals ITA Nos. 1251/Hyd/2018 and 1278/Hyd/2018 dealing with Section 271AAB penalty issue. Suffice to say, it transpires at the outset that the Assessing Officer's penalty order dt. 31-08 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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