Law: Income Tax Ordinance, 2001

Section: 133

(a) Income Tax Ordinance (XLIX of 2001)--- ----S. 133---Reference application---Facts found and accepted by Appellate Tribunal---Interference in such facts by High Court---Scope---High Court could consider only question of law---Misreading or non-reading of any material evidence by Tribunal would be a question of law---High Court would be bound to accept such facts. (b) Income Tax Ordinance (XLIX of 2001)--- ----S.133---Reference application---Additional questions raised subsequently by applicant before High Court---Validity---Such questions being an attempt by applicant to re-agitate factual issues casted in different form, could not be permitted---High Court declined to consider such questions in circumstances. Australasia Bank Ltd.'s case 1962 PTD 575 and Commissioner of Income Tax, Karachi v. Shabbir & Company, Karachi (1966) 13 Tax 197 ref. ORDER MUNIB AKHTAR, J.---This Income Tax Reference Application has been filed by the Inland Revenue Department impugning the order of the Appellate Tribunal dated 18-6-2012. In the Reference Application, the Department has proposed the following questions of law, which are said to arise out of the impugned order:-- (a) Whether on facts and under the circumstances of the case, the taxpayer's version of robbery constituted credible evidence under the Qanun-e-Shahadat, and the Tribunal was justified to rely on such evidence? Whether on facts and under the circumstances of the case, the loss due to robbery was incidental to the respondent's trade and had rightly been accepted by the Tribunal? Whether on facts and under the circumstances of the case, the Tribunal had rightly adjudged that the loss due to robbery was of revenue in nature and constituted an allowable business expense? (d) Whether on facts and under the circumstances of the case, the Tribunal was justified to hold that the amount robbed off constituted stock-in-trade? The proposed questions, and the order made, arise out of the following facts. 2. The respondent taxpayer carries on the business of foreign currency and currency exchange. It appears that during the relevant period it was carrying on such business from various branches in Pakistan including…

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