In Ita/6/2009 Of Commissioner Of Income Tax Gwalior v. M/S Agro Solvent Product Private, the High Court (2018) dismissed the appeal. The decision went in favour of the assessee.
Decision: Accordingly, appeal stands dismissed as withdrawn.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The High Court Of Madhya PradeshITA-6-2009
(COMMISSIONER OF INCOME TAX GWALIORVs M/S AGRO SOLVENT PRODUCT PRIVATE)
Gwalior, Dated :[06][-][12][-][2018]
Shri D.P.S.Bhadoria, learned standing counsel for the appellant.
Learned standing counsel for the Income Tax does not dispute that thetax liability involved herein is less than Rs.50 Lakhs which is furthercorroborated by perusal of the record that tax liability is less than Rs.50Lakh.
Therefore, in view of the circular F.No. 390/Misc/116/2017-JC dated11/07/2018 issued by Ministry of Finance, Department of Revenue CentralBoard of Indirect Taxes & Customs whereby tax limit for challenge in anappeal has been enhanced to Rs.50 Lacs and the same has been madeapplicable to existing appeals too, the learned standing counsel for theappellant Revenue seeks and is permitted to withdraw this appeal.
Accordingly, appeal stands dismissed as withdrawn.
(SHEEL NAGU)JUDGE
(VIVEK AGARWAL)JUDGE
SPSANJEEV KUMAR PHANSE 2018.12.10 17:48:15 +05'30'
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