In Itxa/1367/2007 Of The Commissioner Of Income-Tax-11-Mum v. M/S A.m. Ferguson And Co, the High Court (2009) decided the matter.
Decision: Considering the above and as the CBDT circularwould apply, Appeal is dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.1367 OF 2007
The Commissioner of Income Tax
..Appellant
M/s. A.M. Ferguson & Co...Respondent
Mr. Ram Upadhyay for AppellantMr. Paras Kaka i/by Crowford Baylay & Co. forRespondent
P.C.:
1.From paragraph 11, it is clear that the taxincidence is less than 4 lakhs. In the light of thesame, CBDT circular would apply.
2.On behalf of appellant, learned Counsel oninstructions states that the issue is not of recuringnature. Considering the above and as the CBDT circularwould apply, Appeal is dismissed.
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