Law: Income Tax Ordinance, 2001

Section: 18,56,133

(a) Income Tax Ordinance (XLIX of 2001)--- ----S.133---Reference to High Court-Scope-Reference application involving question not raised by applicant before any forum below---Jurisdiction of High Court to entertain such question---Scope---Such question could not be said to be a question of law arising from impugned order---Neither High Court could ,entertain nor could , applicant be allowed to raise such question at belated stage---High Court declined to accept such question in circumstances. (b) Income Tax Ordinance (XLIX of 2001)--- ----S.133---Reference application---Concurrent finding of facts by lower Appellate forums---Effect---Such findings would be binding on High Court. (c) Income Tax Ordinance (XLIX of 2001)--- ----Ss.18 & 56---Deduction of business expenditure or loss from business income of taxpayer---Scope---Business expenditures were admissible---Absence of receipts of income during relevant tax period would be considered a business loss incurred by taxpayer, which could be set off against income earned under other heads provided under . S.56 of Income Tax Ordinance, 2001. Genertech Pakistan Limited v. ITAT of Pakistan 2004 PTD 2255; AES Pakgen (Pvt.) Limited v. CIR in Civil Petitions Nos.2211-L and 2212-L of 2005 heard on 16-6-2006; 1999 PTD (Trib.) 708 and Khairatul Amin v. CIT, Karachi 2000 PTD 363 ref. JUDGMENT MUNIB AKHTAR, J.---Being aggrieved by the order of the Appellate Tribunal dated 6-10-2012, the Inland Revenue Department has filed the present Reference Application stating therein that the following questions of law arise out of the impugned order requiring consideration by this Court: (1) Whether under the facts and circumstances of the case, the learned Tribunal was justified to uphold the order of Commissioner Inland Revenue (Appeals) allowing administrative and general expenses for the tax year and their adjustment against interest and rental income when the taxpayer had not carried on any business during the year? (2) Whether under the facts and circumstances of the case, the learned Tribunal was justified to uphold the order of Commissioner Inland Revenue (Appeals) allowing administrative and general expenses for the tax year…

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