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2009 (10) TMI 35 - HIMACHAL PRADESH HIGH COURTPayment of Luxury Tax – Applicability of provisions of section 43B – deferral scheme of incentive - ITAT held that circular No.496 and 674 issued by the Central Board of Direct Taxes were applicable to the luxury tax in relation to the provisions of Section 43B of the Income Tax Act, 1961, whereas the said circulars cover the sales tax only and do not have mention of luxury tax – held that - The circulars issued by the CBDT relate to the manner in which Section 43B of the Act has to be interpreted. This interpretation has to be consistent for every tax deferral scheme and the interpretation cannot change from Act to Act. The CBDT has not granted any exemptions from the provisions of Section 43B but has held that if its instructions are complied with then it will be deemed that the requirement of Section 43B has been met. This will be applicable across the Board to all Acts and cannot be limited only to the Sales Tax Acts. - However, the assessee must produce before the Assessing Officer the requisite certificates showing that it is covered under the deferral Scheme
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