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2019 (6) TMI 149 - HC - Income TaxMonetary limit - Low tax effect - HELD THAT: - The appellant who has filed a copy of letter received from the Income Tax Department, Aayakar Bhawan, Panchkula showing that the tax effect is less than ₹ 50,000,00/-. Appellant-revenue states that since the tax effect involved is ₹ 44,67,837/-, he has instructions to withdraw the present appeal in view of circular No. 03/2018, dated 11. 07. 2018 issued by ITA-178-2016 Board of Direct Taxes, New Delhi. However, he has prayed that liberty be granted to the revenue to file an application for revival of the appeal, in case something survives therein. Dismissed as withdrawn with liberty as prayed for. It is, however, clarified that withdrawal of the appeal by the revenue shall not be taken to be affirmation of order of the Tribunal on merits.
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