Whether cash seized under search proceeding can be set off a
This query is : Resolved
27 November 2013
The company was subjected to search under IT Act, and cash was seized.Now the question is whether the cash seized can be used as self assessment tax while filing ITR u/s 139.During E-filing the system however asks for a challan no.How can we generate challan no for the cash seized against panchnama?
Manish Bhandari
(Expert)
27 November 2013
The concerned AO has to be approached to apply such money for discharge of liabilities.
Dhirajlal Rambhia
(Expert)
14 August 2023
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