| Citation(s) |
|---|
| 2012 SLG 44 2012 SLD 44 2012 PTD 581 |
Income Tax Appellate Tribunal
I.T.As. Nos.433 to 436(IB), 137(IB), 440 to 443(IB) of 2008,311, 312(IB), 297(KB), 298(IB), 115(KB), 116(KB), 117(IB),1944(KB) of 2007 and 545(KB), 1305 to 1309(KB) of 2006,1086(KB) of 2005, 18(KB), 19(KB) of 2011, and M.A. (A.G.)No.137 of 2009, decis
, JAVID IQBAL, MUHAMMAD, JAHANDAR, NAZIR AHMAD, JUDICIAL MEMBERS, ABDUL RAUF AND MUHAMMAD ASHRAF, ACCOUNTANT MEMBERS
Shahid Hamid, Sr. Advocate Supreme Court Abid Aziz, Rashid Ibrahim, F.C.A. and Mirza Taqi ud Din, A.C.A. for Appellant. (in I.T.As. Nos.433 to 436(IB) of 2008)Dr. Tariq Masood, Yousaf Hyder Shaikh, Assistant Commissioner, Masood Akhtar, D.R., G.M. Khuhr
I.T.As. Nos.433 to 436(IB), 137(IB), 440 to 443(IB) of 2008,311, 312(IB), 297(KB), 298(IB), 115(KB), 116(KB), 117(IB),1944(KB) of 2007 and 545(KB), 1305 to 1309(KB) of 2006,1086(KB) of 2005, 18(KB), 19(KB) of 2011, and M.A. (A.G.)No.137 of 2009, decis
, JAVID IQBAL, MUHAMMAD, JAHANDAR, NAZIR AHMAD, JUDICIAL MEMBERS, ABDUL RAUF AND MUHAMMAD ASHRAF, ACCOUNTANT MEMBERS
Shahid Hamid, Sr. Advocate Supreme Court Abid Aziz, Rashid Ibrahim, F.C.A. and Mirza Taqi ud Din, A.C.A. for Appellant. (in I.T.As. Nos.433 to 436(IB) of 2008)Dr. Tariq Masood, Yousaf Hyder Shaikh, Assistant Commissioner, Masood Akhtar, D.R., G.M. Khuhr
Messrs MND EXPLORATION AND PRODUCTION LTD. and othersvsC.I.R., L.T.U., ISLAMABAD and others
Law: Income Tax Ordinance, 1979
Section: 134,FifthSched.,Part-I,2(5),3,2,6(10),4
Law: Regulation of Mines and Oil-Fields and Mineral Development (Federal Control) Act, 1948
Section: 4,2(4),3A,3B
Law: Income Tax Act, 1922
Section: 10(8),SecondSched.,
(a) Income Tax Ordinance (XXXI of 1979)---S.134---Appeal is Appellate Tribunal---Memorandum of Understanding between companies and Member, Federal Board of Revenue---Status---Matter relating to Memorandum of Understanding had neither been raised through the grounds of appeal nor it arose from the orders of the officers below, which were subject of appeal---Appellate Tribunal was not a proper forum to resolve the dispute arising out of Memorandum of Understanding---Such memorandum had no legal status as it had neither been codified as law by the legislative body nor had been notified by the subordinate legislation, rather it was a Memorandum of Understanding between the E&P Companies and Member Federal Board of Revenue. (b) Income Tax Ordinance (XXXI of 1979)--- -----Fifth Sched., Part-I, Rr. 4 & 2(5)---Income Tax Act (XI of 1922), S.10(8) & Second Sched., R.4(1)---Regulation of Mines and Oil-Fields and Mineral Development (Government Control) Act (XXIV of 1948), Ss. 4, 2(4), 3A & 3B---Petroleum Policy, 1994---FBR Circular No.5 of 2001 dated 4-7-2001---FBR Circular No.2 of 1974 dated 14-5-1974---Limitations on payment to Government and taxes---Petroleum Concession Agreement---Rate of tax---Payment and tax to the government before deduction of royalty---Exploration and Production Companies contended that Petroleum Concession Agreement was binding on the Government of Pakistan and had got sanctity under R.4 of Part-1 of Fifth Schedule to the Income Tax Ordinance, 1979; that payment to Government shall be limited to 55 percent of profit and gain; that tax rate that was provided in the respective Petroleum Concession Agreement had been applied on the profits and gains prior to deduction of payments to Government; that tax department was misapplying the provisions and principles laid down in the Petroleum Concession Agreement as Taxation Officers were reading the terms 'profit and gains' and 'profit and gains before deduction of royalty' as being synonymous which was a fundamental error on the part of department; and that words "prior to deduction of payments to Government" were not mentioned in Petroleum Concession Agreement in the sentence…
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