Law:

Section:

ORDER Nazir Ahmad, (Judicial Member): The titled further appeal pertaining to tax year 2009 has been directed against the appellate order dated 18.12.2015 recorded by CIR(Appeals-III), Lahore. 2. The facts in brief leading to the instant appeal are that the taxpayer an, AOP, deriving income from the business of manufacturing of transport equipment, filed return for the year under consideration, declaring income at Rs.5,460,576/-, which was treated to be an assessment order in terms of section. 120 of the Income Tax Ordinance, 2001 (hereinafter called 'the Ordinance'). Subsequently, the case was selected for audit u/s 177 of the Ordinance and the taxpayer was informed accordingly. During the audit proceedings various notices were issued including show cause notice u/s 121(l)(d) read with section 177(10) of the Ordinance dated 10.06.2015 against which partial compliance was made. Resultantly, the proceedings culminated in passing of assessment order u/s 121(1)(d) read with section 177(10) of the Ordinance dated 25.06.2015 balance income of the taxpayer chargeable to tax was determined at Rs. 11,352,864/-. Aggrieved, by the treatment meted out by the taxation officer, the taxpayer preferred appeal before CIR(Appeals-III), Lahore, which was also rejected by way confirmation of the impugned assessment order. Still discontended, the taxpayer has come up in further appeal before this Tribunal. 3. The learned counsel appearing on behalf of the taxpayer submits that the taxpayer earns income from commission by supplies and upto tax year 2008 normal return was filed. However, an amendment was made in the law through which the commission income was directed to be treated as under Final Tax Regime (FTR). Therefore, the taxpayer dealing in such type of business was required to file statement u/s 115(4) of the Ordinance, however, the appellant mistakenly filed the return u/s 114 of the Ordinance but soon after realizing that his income is covered under FTR, he filed statement u/s 115(4) of the Ordinance on 23.01.2012. Both the return as well as statement were e-filed. However, the department selected the case of the taxpayer for audit for the year under consideration. In…

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