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Section 234A of the Income-tax Act, 1961 - Return of income - Interest for default in furnishing - Assessment year 1994-95 - Assessee was liable to pay interest under section 234B on income surrendered under section 132(4) from date on which advance tax was due [In favour of revenue] On 29-4-1994, a search was conducted at the residential as well as business premises of the assessee. On search, the assessee surrendered certain amount as additional income. The assessment was completed at the total income. The assessee requested soon after the search that whatever tax was due on the income surrendered be adjusted out of amounts seized from him and the balance be returned to him. The said request of the assessee was not accepted by the Assessing Officer. The Assessing Officer held that the assessee was liable to pay tax instalment on the surrendered income from the date advance tax was due, and charged interest under section 234B. The Tribunal held that the demand of interest was not justified. Held that though the assessee was entitled to benefit of payment out of the seized cash from the date of his application yet the assessee was liable to pay interest under section 234B on the tax liability determined on the income assessed by the Assessing Officer. CASES REFERRED TO Jacob Export House v. CIT [2011] 330 ITR 53 (Punj. & Har.), Parkash Agro Industries v.Deputy CIT [2009] 316 ITR 149 (Punj. & Har.) and Raj Kumar Singal v. Union of India[2002] 255 ITR 561 (Punj. & Har.). K.K. Mehta for the Appellant. JUDGMENT Adarsh Kumar Goel, J. - This order shall dispose of I. T. A. Nos. 149 and 150 of 2003. The facts are said to be identical in both the appeals. Reference is made to the facts of I. T. A. No. 149 of 2003. 2. The Revenue has preferred this appeal under section 260A of the Income-tax Act, 1961 (in short "the Act") against the order of the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar (hereinafter referred to as "the Tribunal") passed in I. T. A. No. 333 (ASR)/96 on November 29, 2002, for the assessment year 1994-95, proposing to raise the following substantial question of law : "Whether, on the facts and in the circumstances of the case,…

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