{"id":55399,"date":"2025-07-15T11:01:26","date_gmt":"2025-07-15T05:31:26","guid":{"rendered":"https:\/\/itatonline.org\/digest\/kushal-narayan-patel-v-ito-2025-211-itd-36-mum-trib\/"},"modified":"2025-07-15T11:01:26","modified_gmt":"2025-07-15T05:31:26","slug":"kushal-narayan-patel-v-ito-2025-211-itd-36-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/kushal-narayan-patel-v-ito-2025-211-itd-36-mum-trib\/","title":{"rendered":"Kushal Narayan Patel. v. ITO (2025) 211 ITD 36 (Mum) (Trib.)"},"content":{"rendered":"<p>Held that since Explanation 2 inserted below section 132B by Finance Act, 2013 states that existing liability does not include advanced tax payable cash seized during search cannot be adjusted against advance tax liability of assessee. \u00a0Cash seized during search as his undisclosed income and requested for adjustment of cash seized against self-assessment tax liability, since assessee had apparently not included said amount of cash seized as part of his total income and computed self-assessment tax liability corresponding to said income.\u00a0 Matter is \u00a0remanded back to Assessing Officer for determining issue of adjustment of self-assessment tax liability. (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 132B : Application of seized or requisitioned assets-Cash seized&#8211;Explanation 2 inserted below section 132B by Finance Act, 2013-Existing liability\u2019 does not include \u2018advanced tax\u2019 payable-Cash seized during search could not be adjusted against advance tax liability-Cash seized-Offered as undisclosed income-Matter is  remanded back to Assessing Officer for determining issue of adjustment of self-assessment tax liability.[S. 132, 140A].<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-55399","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-epx","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=55399"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55399\/revisions"}],"predecessor-version":[{"id":55400,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55399\/revisions\/55400"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=55399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=55399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=55399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}