Law: Income Tax Ordinance, 2001

Section: 2(70A),113(1),113(3),153,153(1)(a),153(7 )(v)(c),133,161,205

Law: Income Tax Ordinance, 2001

Section: 2(70A),113(1),113(3),153,153(1)(a),153(7 )(v)(c),133,161,205

Income Tax Ordinance, 2001 (XLIX of 2001) - Sections 2(70A), 113(1), 113(3), 153, 153(1)(a) 153(7)(v)(c), 133, 205 - Reference to High Court - Failure to pay tax collected or deducted - payments for goods, services and contracts - Non deduction of tax at source as withholding agent - Initiation of proceedings against taxpayer u/s 161 read with section 153 - CIR(A), in appeal, annulled assessment and held that Taxation Officer has grossly erred in treating Taxpayer as withholding agent - Revenue went in appeal before Appellate Tribunal which was accepted - Validity - revenue argued that amendment introduced in section 153 would be governing law - Petitioner asserted that amendment, being prospective, would not be applicable for tax year 2010 and 2011 - Legality aspect determined - Whether amendment introduced in section 153 is to be applied prospectively for reason that Finance Act, 2011 does not expressly provide amendment to have retrospective effect and also for the reason that amendment expands scope of prescribed person as withholding agent to collect advance tax on payment made - Held yes - Whether amendment introduced in Ordinance, vide Finance Act, 2011 being prospective would take legal effect from 1-07-2011 and thus would not apply to lax years in question as same ended on 30-06-2010 and 30-06- 2011 - Held yes - Whether withholding agent and liability accruing for failure thereof cannot be retrospectively saddled upon petitioner taxpayer for any period before 01-07-2011 for provision so introduced vide amendment having prospective effect - Held yes - Whether petitioner, taxpayer carried on business of execution of contract and had paid minimum tax on entire gross receipts arising out of its contracts - Held yes - Whether anomaly in law prompted revenue to introduce amendment vide Finance Act, 2011 whereby special provisions were introduced defining turnover in relation to prescribed person in section 153 - Held yes- Whether orders of Commissioner are maintained being in accordance with law and that of Tribunal are declared to be against law and thus both tax references are answered in positive in terms of opinion rendered - Held Yes. To appreciate and…

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