Law: Income Tax Ordinance, 2001

Section: 124,132

[Income Tax Ordinance(XLI of 2001)]......Sections 124, 132,,. Re-assessment,, Claim,.. Transport Subsidy,, Disallowed,.. Parking/Road Maintenance income,, Addition,, Appeal,.. Tax-payer company was a component of State Cement Corporation of Pakistan before its privatization,,. Maintenance of Taunsa - D.G. Khan Road for the purpose of smooth transportation of Cement was also an irrefutable fact which could be verified by examination of the books of accounts as well as relevant vouchers,, Having regard to the fact that the appellant was a quoted company and its accounts were audited by a certified Chartered Accountant, estimate of income on conjectural basis be avoided unless and until it is established that the assessee company had saved and diverted the funds collected by it to the main operations of the company,,Tribunal set aside the assessment order on both the issues and remanded the case to the taxation officer with the direction to re-examine the case in the light of submissions of the appellant recorded hereinafter,, JUDGMENT This appeal has been filed by the taxpayer company against the order of CIR(Appeals) dated 31.07.2008 on the following grounds:- i) That the learned CIR(Appeals) misdirected herself by confirming the addition of Rs.6,316,000/- by the assessing officer on account of Transport subsidy without considering evidence place on record. ii) That the learned CIR(Appeals) has grossly erred by confirming the additions of Rs.600,000/- on account of Parking Charges/Road Maintenance without any basis. 2. Facts for the purpose of disposal of the instant appeal, briefly stated, are that in pursuance of the order of the Tribunal dated 24.05.2007 re-assessment proceedings were taken up by the taxation officer and during the course of these proceedings the learned taxation officer asked the taxpayer company to produce evidence with regard to expense claimed under the head "Transport Subsidy" at Rs.63,16,000/- which had been disallowed in the earlier round of assessment. Similarly, the taxpayer company was further required to furnish explanation with regard to estimate of "Parking/Road Maintenance income estimated by the assessing officer at…

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