2010 (4) TMI 1221

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....a. ORDER Per J. Sudhakar Reddy, A.M. This is an appeal filed by the Revenue directed against the order of the CIT(Appeals)-VI, Mumbai dated 26-03-2009 for the assessment year 2006-07 on the following grounds : 1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in directing the Assessing Officer to accept the revised working of fringe benefit submitted by the....

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.... any ground or add a new ground which may be necessary. 2. Facts in brief: The assessee is a company and is engaged in the business of manufacturing and marketing of ethical pharmaceutical formulation. The return of Fringe Benefit Tax (FBT) was filed, declaring value of FBT at ₹ 1,25,69,110 and paid taxes accordingly. During the course of assessment proceedings the assessee company filed a....

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....ssessee. 4. The jurisdictional High Court in I.T. Appeal No. 217 of 2001 in the case of Mr. Balkumund Acharya )Prop. Laxmi General supply Company) vs. DCIT vide judgment dated 19th Dec., 2008 at para 31,32,33 on pages 18 & 19 held as follow : "31. Having said so, we must observe that the Apex Court and the various High Courts have ruled that the authorities under the Act are under an obligation....

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....hat there cannot be any estoppel against the statute. Article 265 of the Constitution of India in unmistakable terms provides that no tax shall be levied or collected except by authority of law. Acquiescence cannot take away from a party the relief that he is entitled to where the tax is levied or collected without authority of law. In the case on hand, it was obligatory on the part of the Assessi....