Law: Income Tax Ordinance, 2001

Section: 21(c),21(l),60B,61,111(1)(c),122(1),174( 2),177,122(9),ChapterX,Part-V,Div-IV

(a) Income Tax Ordinance (XLIX of 2001)---Ss. 60B, 177 & 122(9),---Workers' Participation Fund---Addition of---Taxpayer contended that accounts were prepared on accrual basis and an expense was charged as per International Accounting Standard; that S. 60B of the Income Tax Ordinance, 2001 allowed Workers' Participation Fund as deduction against company's income, adding such expense in company's income was illegal which needed deletion; and that, the assessment order did not fulfill the requirement of confrontation as the Taxation Officer had made reliance on unreported of the Appellate Tribunal without confronting the taxpayer through notice and merely mentioning appeal number of the said case of the Tribunal---Appellate Tribunal deleted the addition in circumstances. 2010 PTD (Trib.) 878; 2011 PTD 2158; 2011 PTD 1455 and I.T.A No.1217/LB/2008 ref2008 PTD 647 rel.(b) Income Tax Ordinance (XLIX of 2001)-------Ss. 61, 177 & 122(9)---Charitable donations---Addition on account of donations claimed as straight deduction under S.61 of the Income Tax Ordinance, 2001---Disallowance was made on the basis that claim of such expense was straight deduction which was wrong---Taxpayer explained that expense was incurred in accordance with the Injunctions of Islam not given in the section; and that the amount was made against purchase of printing & stationery, which it was duly explained before the Taxation Officer that accountant had made a mistake in cash book while typing the description---Expense was properly recorded under correct head in the books of accounts---Copies of ledger account of charity, donation, Zakat and Printing and Stationery before First Appellate Authority---Addition made by the Taxation Officer and confirmed by the First Appellate Authority by brushing aside the evidence produced before both the lower authorities, was unjustified and was deleted by the Appellate Tribunal.(c) Income Tax Ordinance (XLIX of 2001)-------Ss. 111(1) (c), 177 & 122(9)---Unexplained income or assets---Addition on account of donations---Taxpayer contended that addition made was the consequence of addition made on account of Donations and Charity; that no…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492