Law: Income Tax Ordinance, 2001

Section: 133

Income Tax Ordinance (XLIX of 2001)--- ----S. 133---Reference to High Court---Exercise of jurisdiction of High Court under S. 133 of the Income Tax Ordinance, 2001---Scope---Question of law and question of general public importance--Jurisdiction of the High Court as provided in S. 133 of the Income Tax Ordinance, 2001 was to decide a question of law arising out of a decision of the Income Tax Appellate Tribunal---Said questions of law that needed to be addressed by the High Court under S. 133 of the Income Tax Ordinance, 2001 should not only arise out of the decision of the Income Tax Appellate Tribunal but also should be of general public importance for future reference and should not be confined to the controversy---Questions of law framed, in the present case, were not questions of law and that of general public importance, but were rather questions of fact---Applicant Department could not point out any question/issue which was raised before the Income Tax Appellate Tribunal and had not been dealt with in its decision---Reference was dismissed, in circumstances. The Commissioner of Income Tax Lahore v. Messrs Immion International Lahore 2001 PTD 900 rel. JUDGMENT AAMER FAROOQ, J.---Through this consolidated judgment we intend to decide six Tax References namely No.66 (instant Tax Reference), 67, 68, 69, 86 and 87 of 2004, as the common question of law is involved. 2. The facts, in brief, leading to filing of the abovementioned Tax References are that the assessee, in all the cases, filed returns for the assessment years 1997-98 and 1998-99 and their assessments for the referred years were finalized under section 59A of Income Tax Ordinance, 1979. Subsequently, the assessees were issued show cause notices to explain their position with respect to loan (s) obtained by them. Replies to show cause notices were filed which were found to be unsatisfactory and the assessment orders were modified and the loan amounts were added as deemed income under section 12(18) of the Ordinance ibid and assessments were finalized accordingly. The assessees who are the respondents in the present proceedings, feeling aggrieved filed appeals before the Income Tax Appellate Tribunal…

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