Law: Income Tax Ordinance, 2001

Section: 15,21(c),21(g),34(1)(d),34(3),34(5),70,1 00,120,120(1),122,122(4),122(5A),122(9), 155,183(10)206(2),214(1),Rule1(c),1(d),6 ,9 ofseventh Schedule

Income Tax Ordinance, 2001 (XLIX of 2001) - Sections 15, 21(c), 21(g), 34(1)(d), 34(3), 34(5), 70, 100, 120, 120(1), 122, 122(4), 122(5A), 122(9), 155, 183(10) 206(2), 214(1), Rule 1(c), 1 ( d ), 6 & 9 of 7/ Schedule - Amendment of assessments - Additions made by Taxation Officer - Annulment of assessment order by CIR(A) and failure to adjudicate grounds regarding (i) Addition on account of provision for employees post retirement benefits, (ii) Recoveries, (iii) Commutation to employees, (iv) Unpaid liability of mark-up, (v) Reversal of amortization of deferred income, (vi) Provision of non-performing loans & advances, (vii) Reversal against provisions (viii) Provision against other assets, (ix) Impairment loss, (x) property income & (xi) Penalty paid to State Bank - Validity - Whether annulment of assessment order by CIR(A) is not justified, therefore, appeal of Deptt. for tax year 2010 against annulment of assessment order is accepted - Held yes - Whether addition under head post-retirement medical benefit made by Assessing officer is not in accordance with law laid down by tribunal reported as (2012) 106 Tax 317 (Trib.)=2013 PTD 246 (Trib), hence same is directed to be deleted for Tax Year 2010 and impugned orders of CIR(A) on this issue for Tax Year 2011 and 2012 are upheld - Held yes - Whether after going through available record and submissions made by parties regarding addition on account of recoveries, it is held that A.O, has made addition on account of recoveries without any evidence/material establishing that recoveries do not relate to period up to tax year 2007, even otherwise this addition does not come under ambit of Seventh Schedule to Ordinance, therefore, same is directed to be deleted for tax year 2010 and 2011 - Held yes - Whether addition made in respect of property income in all three years under appeal, provision against non-performing loans and sub-standard loans and reversal against provision on account of compensated absences being subject matter of appeal for tax year 2011 & 2012 and surcharge for tax year 2011 are remanded back to A.O as these issues require further adjudication, clarification and evidence to be…