2011 (11) TMI 250

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....ondent Per: Ashok Jindal 1. The Revenue has filed this appeal on the ground that in the impugned order, the Commissioner (Appeals) has made an observation that the principles of unjust enrichment would not apply while refunding fine and penalty relying on the decision of Hon'ble High Court of Bombay in the case of United Spirits Ltd., Vs. CC (Imports),Mumbai reported in 2009-TIOL-316, after ....

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....d CA's certificate that the encashed bank guarantee was reflected in the balance sheets from the FY 2005-06 upto 2007-08 as receivable and hence came to a conclusion, rightly in my opinion, that its incidence was not passed on. Even otherwise the issue whether the principle of unjust enrichment should apply to a case of refund of fine or penalty is no more res integra. Mumbai High Court (Division ....