(Delivered by the Acting Chief Justice) The Tax Case Appeal filed by the Revenue calling in question the correctness of the order passed by the Income Tax Appellate Tribunal, Madras 'A' Bench, Chennai, dated 14.9.2007 in ITA No.66 of 2000, has been admitted on 11.6.2008 for consideration of the following substantial questions of law:
"(1) Whether on the facts and circumstances of the case, the Tribunal was right in applying the provisions of
Section 147 as it stood up to 31.3.1989 for holding that the re-assessment for the assessment year 1991-92 is invalid in law?
(2) Whether the date of issue of the notice under
Section 148 or the date of receipt thereof is the relevant date for calculation of limitation?"
2. Circular instruction issued by the Central Board of Direct Taxes No.21/2015, dated 10.12.2015 stipulates that appeals shall not be filed/pursued by the Department before the High Court in cases where the tax effect does not exceed Rs.20 lakhs. In the instant case, the tax effect is less than the monetary limit imposed and therefore, the learned Standing Counsel for the appellant seeks to withdraw this appeal. Hence, this appeal is dismissed as withdrawn. No costs.