Cash Seized can be Adjusted Against Self-Assessment Tax Payable u/s 132B of Income Tax Act: ITAT [Read Order]

By Fathima Karama A.M - On June 15, 2023 10:00 pm - 2 mins read
Cash Seized - Income Tax - Self-Assessment Tax - Income Tax Act - ITAT - taxscan

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the cash seized could be adjusted against self-assessment tax payable under Section 132B of the Income Tax Act, 1961. The Assessee, Arun Bansal was a resident individual. On 01.12.2018, a search and seizure operation under Section 132 of the Income Tax Act was…

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