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2019 (6) TMI 156 - HC - Income TaxMonetary limit - low tax effect - maintainability of appeal - HELD THAT:- When the matter is taken up for consideration, learned Standing Counsel for the Revenue fairly concedes that the appeal was filed way back in June, 2018. By virtue of the 'new litigation policy' and the circular issued subsequently on 11.07.2018 by the Central Board of Direct Taxes (CBDT), the subject matter of litigation for approaching the High Court shall be of a minimum value of ₹ 50,00,000/- which requirement is not satisfied in the instant case, as in the present case, the tax effect is to the extent of ₹ 34,01,999/- only. This Court is also aware of the fact that the scope of the said circular was considered by the Apex Court and in terms of the contents of such circular, it has been held that the same is having retrospective application i.e. in respect of the pending litigations as well. Standing Counsel seeks permission of this Court to withdraw this appeal.
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