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TMI Blog2019 (10) TMI 1535X X X X Extracts X X X X X X X X Extracts X X X X ..... ndent involving low tax effect? - HELD THAT:- Similar question came up for consideration before this Court in Director of Income Tax, Circle 26(1), New Delhi vs. S.R.M.B. Dairy Farming (P) Ltd., [ 2017 (11) TMI 1494 - SUPREME COURT] This Court after considering the decisions of different High Courts, including the Supreme Court decision on the question involved, namely, Commissioner of Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... akshi Malhan, Adv., Ms. Suriti Chowdhary, Adv., Ms. Mrinal Kanwar, Adv. For Respondent(s) Mr. B. V. Balaram Das, AOR, Mr. ANS Nadkarni, ASG, Ms. Pinki Anand, ASG, Mr. Arijit Prasad, Sr. Adv., Mr. Baroona Gautam, Adv., Mr. Arjun Garg, Adv., Mr. Amit Verma, Adv., Mr. Adit Khorana, Adv., Mrs. Anil Katiyar, AOR ORDER Heard learned counsel for the parties. These appeals take ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax, Circle 26(1), New Delhi vs. S.R.M.B. Dairy Farming (P) Ltd., reported in (2018) 13 SCC 239. This Court after considering the decisions of different High Courts, including the Supreme Court decision on the question involved, namely, Commissioner of Income Tax Vs. Surya Herbal Ltd. reported in (2011) 15 SCC 482 answered the question in favour of assessee in the following words: 23. We ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the three-Judge Bench would hold water and the Circular would apply even to pending matters but subject to the two caveats provided in Surya Herbal Ltd. case. The same interpretation must apply to the instructions under consideration. In the present case, there is no possibility of cascading effect nor the issue is involved in group of matters, as such. Therefore, the appeals are allowed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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