Law: Income Tax Ordinance, 2001

Section: 113,120(10,122(5A),122(9),153,221

ORDER These three appeals have been filed at the instance of the taxpayer against the three separate orders dated 20.02.2013, 24.01.2012 & 07.02.2013 recorded by learned CIR(A) u/s 221 for the tax year 2010 & 2005 and 122(5A) for the tax year 2005 wherein the learned first appellate authority rejected the appeals of the taxpayer on the issue of Limitation as well as rectification. 2. Brief facts of the case are that the taxpayer, a private limited company derives income from operating a FM Radio broadcast in the name and style of FM 89. The taxation officer has observed that the taxpayer had not deposited the minimum tax liability u/s 113 of the Income Tax ordinance, 2001 i.e. tax deducted on services rendered by the taxpayer was adjusted against tax payable u/s 113 of the Income Tax Ordinance 2001. He, therefore, issued show cause notice u/s 221 of the Income Tax Ordinance, 2001. The reply submitted by the taxpayer was found unsatisfactory by the taxation officer. He therefore rectified the earlier assessment order for the tax year 2010. In appeal the learned CIR(A) upheld the treatment in the rectification order u/s 221 for the reasons and factors as embodied in the impugned order. For the tax year 2005, the taxation officer observed that the deemed assessment u/s 120(1) of the Income Tax Ordinance, 2001 was considered as erroneous in so far as prejudicial to the interest of Revenue in terms of Section 122(5A), hence notice u/s 122(9) of the income lax ordinance. 2001 was issued. The reply submitted by the taxpayer was turned down and amended the assessment u/s 122(5A) by making certain additions, in appeal the teamed CIR(A) rejected the appeal of the taxpayer on the issue of limitation, the taxpayer had moved an application for rectification on the issue of limitation which has been decided by the learned CIR(A) against the taxpayer and declined to rectify the same. This has brought the taxpayer in further appeal before this forum. 3. The learned AR has vehemently agitated for the lax year 2010, that the learned CIR(A) was not justified to confirm tax deductions u/s 153 of the Income Tax Ordinance, 2001 amounting to Rs. 1,491,132/- as a minimum tax.…

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