In Income Tax Department v. Torquise Investment, the High Court (2019) dismissed the appeal. The decision went in favour of the assessee.
Decision: The tax effect is less than one crore and therefore, inthe light of the Circular dated 8/8/2019 issued by the CBDT,fixing the monetary limit, the present appeal is dismissed aswithdrawn.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
HIGH COURT OF MADHYA PRADESH, BENCH AT INDORE
I T A No. 94 / 2019
INCOME TAX DEPARTMENT VS. TORQUISE INVESTMENT
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INDORE, Dated : 12/12/2019
Parties through their counsel.
The tax effect is less than one crore and therefore, inthe light of the Circular dated 8/8/2019 issued by the CBDT,fixing the monetary limit, the present appeal is dismissed aswithdrawn. However, the question of law is left open. Theappeals are not covered under the Exceptional Clause of theCircular dated 8/8/2019.
KR
(S. C. SHARMA)(SHAILENDRA SHUKLA)J U D G EJ U D G E
Digitally signed by Kamal Rathor Date: 2019.12.12 13:19:40 +05'30'
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