TMI Blog2020 (3) TMI 1049X X X X Extracts X X X X X X X X Extracts X X X X ..... a direction to reconsider the issue in accordance with the amended provisions of the Act. The assessee is also directed to approach the Pr. CIT u/s 25 of the Act and seek refund in accordance with the CBDT Circular and on such receipt of the application, the Pr. CIT shall dispose of the application within a period of one year from the end of the financial year in which the application is received and the AO thereafter shall refund the taxes paid by the assessee, if the Pr. CIT so directs. Assessee s appeals are treated as partly allowed for statistical purposes particularly because the CIT (A) orders are also dated 12.02.2014 i.e. prior to the CBDT Circular dated 11.06.2015. - WTA Nos. 14 to 16, 24 and 50 to 54/Hyd/2014 - - - Dated:- 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed the appeals as not maintainable because the assessee itself has offered the net wealth to tax. Aggrieved, the assessee filed second appeals before the Tribunal by raising the following grounds of appeal: 1) The order of the learned Commissioner of Wealth Tax (Appeals) is erroneous both on facts and in law. 2) The learned Commissioner of Wealth Tax (Appeals) erred in not considering the appeal on the ground that the Assessing Officer taxed the net wealth as admitted. 3) The learned Commissioner of Wealth Tax (Appeals) ought to have seen that there is an amendment to the Wealth Tax Act with retrospective effect exempting the value of agricultural land from Wealth Tax. 4) The learned Commissioner of Wealth Tax (App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... applications within a period of one year from the date of such an application. For the purpose of clarity and ready reference, the relevant CBDT Circular is reproduced hereunder: Circular No. 11/2015 F.No.325/02/2014- WT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi, the 11th June 2015 Order under section 10(2)(b) of the Wealth-tax Act Prior to amendment by Finance Act 2013, sub clause (b) of Explanation 1 to clause (ea) of section 2 of the Wealth- tax Act 1957 (Act) provided that an urban land shall be chargeable to wealth-tax. This inter alia included land situated in any area which is comprised within the jurisdiction of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er Section 10(2)(b) of the Wealthtax Act. the Board hereby authorizes Principal Commissioners/Commissioners of Wealth-tax to admit application for revision under section 25 of the Act from assessees seeking refund arising due to the aforesaid amendment, after the expiry of the period specified under the said section and to deal with it on merits as per law. 4. The Principal Commissioner/Commissioner of Wealth-tax shall dispose of such applications within one year from the end of the financial year in which the application is received. However, the Principal Commissioner/Commissioner shall not set-aside any order. While disposing the application, the Principal Commissioner/Commissioner may for deciding the matter call for a report from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of India provides that Taxes not to be imposed save by authority of law No tax shall be levied or collected except by authority of law . 6. The Hon'ble Bombay High Court in the case of Nirmala L. Mehta vs. A. Balasubramaniam, C.I.T. (2004) 269 ITR 1 (Born) has held that 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. 7. In another instance the Bombay High Court in the case of Balmukund Acharya vs DCIT, CIT and UOI 310 ITR 310 (Bom) has held that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore them indicate that some refund or relief is due to him. This attitude would, in the long run, benefit the department, for it would inspire confidence in him that he may be sure of getting a square deal from the department. Although, therefore, the responsibility for claiming refunds and reliefs rests with the assesses on whom it is imposed by law, officers should - (a) draw their attention to any refunds or reliefs to which they appear to be clearly entitled but which they have omitted to claim for some reason or other; (b) freely advise them when approached by them as to their rights and liabilities and as to the procedure to be adopted for claiming refunds and reliefs -. 10. In view of the CBDT Circular dated 11/06/2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
