Deputy Commissioner Of Income Tax, Circle- 2, Patna v. M/S Venky Steels Pvt. Ltd

707-12-2018 IN THE HIGH COURT OF JUDICATURE AT PATNAMiscellaneous Appeal No.727 of 2016 ====================================================== Deputy Commissioner Of Income Tax, Circle- 2, Patna ... ... Appellant/s VersusM/s Venky Steels Pvt. Ltd., 105, Om Raj Apartment, Jamal Road, Patna CORAM: HONOURABLE MR. JUSTICE JYOTI SARAN and HONOURABLE MR. JUSTICE RAJEEV RANJAN PRASADORAL ORDER (Per: HONOURABLE MR. JUSTICE JYOTI SARAN) Matter has been posted for consideration of the officenote but in the nature of the situation which is discussedhereinafter we are persuaded to ignore the same. Ms. Archana Sinha, learned Senior Standing Counselfor the Income-tax Department, in reference to a circular of theGovt. of India in its Ministry of Finance, Department ofRevenue issued by the Central Board of Direct Taxes dated11.7.2018, prays for withdrawal of this appeal. Be it noted thatunder the said advisory the Department has been advised, interalia, not to pursue any such appeal before the High Court wherethe value of dispute is Rs.50 lacs or below unless the matter iscovered by any judgment of the High Court/ Supreme Court.The relevant extract of the circular is quoted hereinbelow for ready reference: 10. Adverse judgments relating to the following issues should becontested on merits notwithstanding that the tax effect entailed is lessthan the monetary limits specified in para 3 aboveor there is no tax effect: (a) Where the Constitutional validity of theprovisions of an Act or Rule is under challenge, or (b) Where Board’s order, Notification, Instructionor Circular has been held to be illegal or ultravires, or (c) Where Revenue Audit objection in the casehas been accepted by the Department, or (d) Where the addition relates to undisclosedforeign assets/ bank accounts. 13. This Circular will apply to SLPs/ appeals/cross objections/ reference to be filed henceforthin SC/Hcs/Tribunal and it shall also applyretrospectively to pending SLPs/ appeals/ crossobjections/ reference. Pending appeals below thespecified tax limits in para 3 above may bewithdrawn/ not pressed.” Surendra/- U Since according to Ms. Sinha, the value of the presentappeal is less than 50 lacs, in terms of the advisory so issued shemay be permitted to withdraw the appeal, which is accordinglydismissed as withdrawn. (Jyoti Saran, J) ( Rajeev Ranjan Prasad, J)