Commissioner Of Income Tax-Iii v. M/S.Bgs-Sgs-Soma [Jv]

HONOURABLE SRI JUSTICE M.S.RAMACHANDRA RAO AND HONOURABLE SRI JUSTICE K.LAKSHMAN I.T.T.A. No.517 OF 2012 JUDGMENT: (Per Honourable Sri Justice M.S.Ramachandra Rao) Heard Sri K. Raji Reddy, learned senior standing counsel for the appellant, and Sri T. Bala Mohan Reddy, learned counsel for the respondent.

2. Sri K. Raji Reddy, learned senior standing counsel for the appellant-Revenue, states that this appeal no longer survives for consideration in view of the fact that the tax/duty effect is less than the monetary limit fixed by the Central Board of Direct Taxes, Ministry of Finance, Government of India, vide Circular No.17 of 2019 dated 08.08.2019 and Circular No.23 of 2019 dated 06.09.2019. Liberty is however sought by the learned senior standing counsel for restoration of the appeal in the event any of the exceptions have application.

3. Recording the said statement, the appeal is dismissed as withdrawn with the liberty aforestated. Pending miscellaneous petitions, if any, shall also stand dismissed. No order as to costs. ____________________________ M.S.RAMACHANDRA RAO, J _________________ K. LAKSHMAN, J OCTOBER 29, 2019 KTL/Mgr