Law: Income Tax Ordinance, 2001

Section: 21(c),122(4)(5A),221

ORDER M. M. AKRAM (JUDICIAL MEMBER): The titled appeal has been filed by the appellant/taxpayer against an Order-in-Appeal No.541/2018 dated 29.06.2018 passed under section 221 of the Income Tax Ordinance, 2001 ("the Ordinance") by the Commissioner Inland Revenue (Appeals-I), Islamabad for the Tax Year 2016 on the grounds as set forth in the memo of appeal. 2. That the brief facts culled out from the record are that the appellant is banking company which derives income from running a commercial bank. The return of total income for the Tax Year 2016 was e-filed on 16.12.2016 and assessment stood finalized under section 120(1) of the Ordinance by fiction of law. Subsequently, the deemed assessment order was amended under section 122(5A) read with section 122(4) of the Ordinance vide order dated 06.06.2017. The appellant did not prefer an appeal against the aforesaid order under section 127 of the Ordinance but opted to file rectification application under section 221 of the Ordinance. The assessing officer vide order dated 20.06.2017 rectified the mistake to the extent of the tax demand created under section 21(c) of the Ordinance and declined to rectify the alleged mistake on deduction of advertisement and publicity expenses by observing that the request of the appellant cannot be entertained as it involved re-ascertaining and re-investigation the factual position which cannot come within the scope of section 221 of the Ordinance. Feeling aggrieved of this treatment, the appellant preferred an appeal before the learned Commissioner Inland Revenue (Appeals) who vide order dated 29.06.2018 confirmed the treatment meted out by the assessing officer. Now the appellant has assailed the impugned appellate order before this forum on number of grounds. 3. This case came up for hearing on 20.08.2019. Learned AR of the appellant reiterated the contentions already submitted in the grounds of appeal. On the other hand, learned DR opposed the appeal on the ground that learned Commissioner (Appeals) has passed a speaking order and there is no illegality or lacuna in his order. He, therefore, prays for rejection of appeal. 4. The orders of both the authorities have been…

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