Principal Commission Of Income Tax Deptt v. M/S Trubmoo Cements

HIGH COURT OF JAMMU AND KASHMIR AT SRINAGAR CONC-38/18 Date of Order : 26.04.2019 Principal Commission of Income tax deptt. v. M/S Trubmoo cements Coram: Hon’ble Mr. Justice Ali Mohammad Magrey, JudgeHon’ble Mr. Justice Tashi Rabstan, Judge Appearing Counsel: For the petitioners: Mr. J.A Kawoosa, AdvFor the respondents: Mr. Javid Iqbal, adv CONC no. 38/18 For the reasons mentioned coupled with the submissions made at bar delay of 26 days in filing the Income Tax Appeal is condoned. Condonation delay application is disposed of. ITA No. 01/19. Mr. J. A Kawoosa, learned counsel for the appellant submits that Income tax department has sent him a photo copies of communication no. ACIT/Sgr/2018-19 dated 25.04.2019 and Circular No. 3/2018 in terms whereof the Deputy Commissioner of Income Tax has requested the learned counsel to withdraw the appeal in light of the CBDT Circular No. 03 dated 11.07.2018 regarding revision of Monetary Limits for appeals and in light of the communication from the office of Principal Commissioner F.No.PrCIT/JMU/Judl/2019-10/582-584 dated 24.03.2019, whereby revised monetary limit from Rs. 20 lacs to Rs.50 lacs is now for filing appeal before the High Courts. In the present case the Tax effected is only having limit of Rs.23,79, 75/-. In view of the policy decision of the Central Board of Direct Taxes reflected in the Circular no. 03/2018, dated 11.07.2018, the appellant is seeking withdrawal of the present appeal. His statement is taken on record. Accordingly, the appeal shall stand dismissed as withdrawn along with all connected MPs. Interim direction, if any, subsisting shall stand vacated. (Tashi Rabstan ) (Justice Ali Mohammad Magrey) Judge Judge Srinagar 26.04.19. Ayaz