ASHOK KUMAR,J. - (1.) This is an appeal arises from a decision of the Income Tax Appellate Tribunal dated 28.11.2008 passed by the Tribunal in ITA No. 18/Agra/2007.
(2.) The following questions of law have been framed by the assessee. (i) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in confirming the demand of interest under section 234A and 234B of the Income Tax Act ? (ii) Whether, interest of Rs. 16,398/under Section 234A is liable to be deleted as the amount of Rs. 4,90,899/allegedly belonging to the appellant stood seized by the department on 31.05.1990 and appropriated vide order dated 23.11.1990 under Section 132(5) of the Act ? (iii) Whether, interest of Rs. 1,31,184/under Section 234B is liable to be deleted as the amount of Rs. 4,90,899/allegedly belonging to the appellant stood seized by the department on 31.05.1990 and appropriated vide order dated 23.11.1990 under Section 132(5) of the Act ? (iv) Whether, the term 'existing liability under the Act' has been correctly interpreted and applied in the facts and circumstance existing in the present case ?
(3.) We have heard Sri Amit Mahajan, learned counsel for the appellant and Sri Piyush Agarwal, learned Senior Standing Counsel for the Department.;