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TMI Blog2020 (6) TMI 377X X X X Extracts X X X X X X X X Extracts X X X X ..... /2011 pertains to Assessment year 2007-08. Since, common questions of law arise for consideration in these appeals, they were heard analogously and are being decided by this common judgment. The appeals were admitted on following substantial questions of law: (i) Whether on the facts and in the circumstances of the case the Honourable Tribunal was right in law in holding that the letter of request dated 15.03.2007 but only as on the date of filing the return of income for the purpose of computation of interest under Section 234B and 234C? (ii) Is the implied finding of Honourable Tribunal that the appellant has offered the cash seized as advance tax against the liability in block assessment, not perverse in the light of the letter of re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect of interest from the date of filing of the return till the date of order of assessment. Thus, the appeal preferred by the assessee was partly allowed. The tribunal by an order dated 30.06.2011 dismissed the appeal preferred by the assessee. In the aforesaid factual background, these appeals have been filed. 4. Learned counsel for the assessee has invited the attention of this court to a communication dated 15.03.2007 and has pointed out that the assessee had made a request to adjust a sum of Rs. 50 Lakhs out of the cash seized towards advance tax payable for the Assessment year 2007-08. While pointing out to the statement of total income, it was pointed out that before seizure of the cash, four installments of advance tax was paid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is submitted that the first substantial question of law framed by this court deserves to be answered in favour of the assessee and against the revenue and the second substantial question of law need not be answered. 5. On the other hand, learned counsel for the revenue submitted that the advance tax cannot be adjusted towards the tax as it is not an existing liability. It is further submitted that the assessee did not make computation of advance tax as required under Section 209(1)(a) of the Act and as per Section 210(1) of the Act is required to calculate the amount of advance tax. Therefore, the tribunal is justified in taking the view that for the purposes of adjustment of the cash seized against the advance tax payable can be treate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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