Law: Income Tax Ordinance, 2001

Section: 21(c),111(1)(a),111(1)(d),111(2),114,120 ,122,122(2),122(5A),

Law: Constitution of Pakistan, 1973

Section: 10A

Law: General Clauses Act, 1897

Section: 6(1)(c)

(a) Income tax---Amendment in period of limitation---Retrospective application of such amendment-Even procedural law could not take away vested and existing right by applying the same retrospectively-Limitation as stood at the time of filing of return would apply. (b) Income Tax Ordinance (XLIX of 2001)-----Ss. 122 & 122(5)(A)---Amendment of assessment-Scope-Upon filing of return and its maturity into a deemed assessment, taxpayer acquired a right and the same became a past and closed transaction- Any subsequent change in law could not effect such a finalized matter-Department was left with no authority to reopen an already finalized assessment-Issuance of notice and passing impugned order pursuant thereto after expiry of prescribed limitation of five years was against the law-Impugned amendment in the assessment made under S.122(5)(A) of Income Tax Ordinance, 2001 was not maintainable in the eye of law being made beyond the time limitation prescribed in law. Nagina Silk Mills Lyallpur v. The Income Tax Officer Lyallpur 1963 PTD 633 = PLD 1963 SC 322; 1981 CLC 372 and 1985 CLC 679 rel. (c) Income Tax Ordinance (XLIX of 2001)----S. 122-Amendment of assessment-'Definite information'- Connotation-Every information could not be treated as the basis for re-opening of assessment but information should of the nature which would qualify as "definite information"-Term "definite information" could not be given a universal meaning but it would have to be construed in each case where a taxpayer disclosed all material facts without any concealment-Any estimate, gossips, personal whims or surmises could net be termed as "definite information"-Any information which created doubt or provided reason to suspect that income had been concealed did not form a part of the term 'definite information. 1993 SCMR 1232 and 2010 PTD (Trib.) 122 rel. ORDER These are five appeals preferred on behalf of the taxpayer company. Appeal pertaining to the tax year 2008, has been directed against order dated 24-7-2014, whereas other four appeals for the tax years, 2009 to 2012 are directed against consolidated order dated 24-7-2014, passed by the learned CIR(A), Zone-II, Lahore. AH these are…

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