Law: Income Tax Ordinance, 2001

Section: 205,205(1),122(5A),207(f),201(1)

[Income Tax Ordinance (XLIX of 2001)].......Sections 205(1), 122(5A), 207(f), 201(1),, Finance Act, 2010,.. Demand of tax raised by the department which was reduced upon Appeal,, Rectification,, Demand was further reduced,, Late payment of demand,, Show-cause Notice,.. Addition,.. Appeal by tax-payer was rejected by the CIR(A) being without merit, hence the instant appeal,.. Contentions raised by the R.A. were the same submitted before the lower authorities,.. The Tribunal was of the view that the learned counsel for the tax-payers failed to substantiate his version about late deposit of due tax, therefore, he upheld the order of the learned CIR(A) and dismissed the appeal of the tax-payer being devoid of merit,, (1976) 33 Tax 288 (H.C.) referred. (b) Income Tax Ordinance (XLIX of 2001),, Sections 221, 182,, Demand,.. Late payment,.. Show-cause Notice,.. Imposition,, Penalty,.. Surcharge,, Appeal by tax-payer,.. Deletion,.. The Tribunal was of the view that the learned D.R. failed to dislodge the findings of the learned CIR(A), therefore, order of the lower authority was maintained and departmental appeal was dismissed being without any merit. JUDGMENT Titled cross appeals have been filed at the instance of the taxpayer as well as by the Revenue against the two separate orders recorded by the learned CIR(A), Lahore on 14-09-2011. The taxpayers appeal for the tax year 2003 is directed against the order passed u/s 205(1) of the Income Tax Ordinance, 2001 (the Ordinance) whereby the learned CIR(A) rejected the appeal of the taxpayer. Revenues appeal for the tax year 2003 is directed against the order u/s 182(1) of the Ordinance, whereby the learned CIR(A) deleted the penalty. Taxpayers appeal:- 2. Brief facts, leading to the disposal of appeal, are that the taxpayer, a public limited company, derives income from production and sale of sugar. Revenue raised a demand of Rs.8,059,481/- u/s 122(5) of the Ordinance, for the tax year 2003. As a result of appeal, that demand was reduced to Rs.2,227,247/-. This demand was further reduced to Rs.759,900/- through rectification order dated 15-09-2006. The taxpayer deposited this demand on 02-11-2007. In view of this delayed…

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