Law: Companies Ordinance, 1984

Section: 316

Law: General Clauses Act, 1897

Section: 6

Law: Income Tax Ordinance, 1979

Section: 66A

Law: Income Tax Ordinance, 2001

Section: Preamble,122(5A),239(1)

(a) Interpretation of statutes--- ----Repealed statute---Provisions of a repealed statute preserved by a saving clause in the repealing statute---When a statute repeals an earlier statute and it was an unqualified repeal, then the effect of such repeal was that the earlier statute got repealed in its entirety---However, where the Legislature intended to preserve any power or inchoate right in relation to the repealed statute, then a saving clause was incorporated in the repealing statute whereby certain provisions were preserved from getting repealed to the extent and with regard to the subject mentioned in the saving clause---Provisions of the repealed law that were so preserved were to be regarded as if the repealed statute was still in operation. (b) Income Tax Ordinance (XLIX of 2001)--- ----S. 239(1)---Income Tax Ordinance (XXXI of 1979) [since repealed], Preamble---Section 239(1) of the Income Tax Ordinance, 2001 as a saving clause---Scope---Section 239 of the Income Tax Ordinance, 2001, by its very nature, being a saving clause, was intended to preserve certain powers and procedures contained in the repealed Income Tax Ordinance, 1979---Several procedures for the correct assessment of income and determination of tax liability were devised in the repealed Income Tax Ordinance, 1979---Section 239(1) of the Income Tax Ordinance, 2001, in fact saves the entire set of procedures prescribed under the repealed law [Income Tax Ordinance, 1979] through which the exercise of reaching at the correct calculation of total income and the tax payable thereon could be undertaken with regard to the periods covered under the repealed Income Tax Ordinance, 1979---Section 239(1) of the Income Tax Ordinance, 2001 encompassed within its ambit all types of assessments that could be made to a tax return---In simple terms, assessment was relatable to all stages of assessments that could be made to a tax return under the provisions of the repealed Income Tax Ordinance, 1979---Replacement of old law with a new one was never intended to affect the right of the department to revise an assessment order that had been made under the provisions of the repealed Income Tax Ordinance,…