Law: Income Tax Ordinance, 1979

Section: 62,156,clause(2) ofPara-B ofPart-IV oftheFirst Schedule

Law: Companies Ordinance, 1984

Section: 79

Law: Income Tax Ordinance, 2001

Section: 133(4)

ORDER NAZIR AHMAD (Judicial Member): In the first instance, the subject departmental appeals were decided in favour of the assessee vide this Tribunal order dated 23.04.2002. The Department preferred Reference Applications u/s 133(4) of the repealed Income Tax Ordinance, 2001, before the Hon'ble Islamabad High Court and their lordships vide order dated 11.02.2015, contained in Tax Reference No.48 of 2004, were pleased to remand the matter to the Tribunal with the following observations: - "8. For what has been stated above, we answer the question of law in the affirmative and hold that when the facts are admitted, as in the present case the legal status of the respondent, it will not tantamount to change of opinion requiring the matter to be reinvestigated or the evidence to be reappraised. The mistake would, therefore, be apparent on record and fall within the ambit of powers vested under Section 156 of the Ordinance. The instant reference is therefore, allowed; the impugned order is set aside and the matter remanded back to the Tribunal for decision afresh. We expect that the Tribunal would take into consideration the relevant facts and decide the matter, preferably, within 60-days. The Registrar of this Court shall send a copy of this order under the seal of the Court to the learned Tribunal. 2. In view of the above directions of the Hon'ble Islamabad High Court, the present appeals are taken up for hearing and are being disposed of through this consolidated order. 3. Relevant facts in brief are that the assessee / respondent in this case is a private limited company was incorporated in 1969 by the Telephone and Telegraph Department (subsequently Pakistan Telecommunication Corporation) in collaboration with Siemens A.G. Germany and was engaged in manufacture of carrier multiplex equipment and digital system alongwith its existing spectrum of analog system. For assessment years 1992-93 and 1993-94, the company offered its income for taxation at the rates applicable to the public limited companies under the 1st Schedule to the repealed Income Tax Ordinance, 1979. The same was accepted by the Department vide orders passed u/s 62 of the repealed Ordinance. Later…

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