PR. COMMISSIONER OF INCOME Vs. SHRADDHA TRUST

JUDGEMENT

(1.) Learned counsel for the Appellants-Revenue has brought to the notice of this Court that the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, New Delhi, has recently issued a revised Circular No.3/2018, dated 11th July, 2018, revising the monetary limits for filing appeals by the Department before the Income Tax Appellate Tribunal, High Courts and Supreme Court and the earlier monetary limits for the High Courts is upwardly revised from Rs. 20, 00, 000 to Rs. 50, 00, 000/- w.e.f. 11th July, 2018. The said Circular is quoted below:

(2.) The tax effect in the present case as stated by the Appellants-Revenue is less than the prescribed limit of Rs. 50.00 lakhs for filing an appeal before High Court.

(3.) Learned counsel for the Appellants-Revenue does not press this appeal and seeks leave of the Court to withdraw the present appeal in terms of paragraph-13 of the said Circular.