Law: Income Tax Ordinance, 2001

Section: 153(1)(a),115(4),120(1),122,153,153(7),2 21,221(4)

(a) Income Tax Ordinance (XLIX of 2001)--- ----S. 221---Rectification of mistake---Limitation---Scope---Taxpayer filed normal returns for the tax year 2013 which was deemed to have been assessed under S. 120(1), Income Tax Ordinance, 2001---Assessing authority observed that the taxpayer was engaged in the business of supply of medicines, therefore, normal return was illegal and unlawful as the taxpayer was under legal obligation to file statement under S. 115(4) of Income Tax Ordinance, 2001---Show-cause notice was issued confronting the taxpayer with proposed rectification, in response to which the taxpayer filed reply which was found unsatisfactory by the assessing authority---Assessment was amended by creating demand for the tax years 2013---Taxpayer, being aggrieved, filed appeal before the Commissioner Inland Revenue (Appeals), who vide impugned order rejected the appeal of the taxpayer---Validity---Initiation and subsequent conclusion of proceedings under S. 221 of Income Tax Ordinance, 2001 on 15-02-2019 to rectify the deemed assessment order for the tax year 2013 on 15-12-2013 was not sustainable in the eyes of law being barred by time limitation as provided under subsection (4) of S. 221, Income Tax Ordinance, 2001---Order passed by assessing authority and Commissioner (Appeals) were consequently vacated---Appeal was disposed of accordingly. 2016 PTD 2579; 1992 PTD 570; Commissioner of Income Tax v. Abdul Ghani 2007 PTD 967; Commissioner of Income Tax, Karachi v. Shadman Cotton Mills Ltd., 2008 PTD 253; 2013 PTD 508; 2017 PTD 903; 2016 PTD 270; 2017 PTD 547; 2014 PTD 484; 2017 PTD 1785; 2018 PTD 1480; 1993 SCMR 1108; PLD 1997 SC 700 and Commissioner of Income Tax v. National Food Lab. 1992 SCMR 687 ref. (b) Income Tax Ordinance (XLIX of 2001)--- ----Ss. 115(4), 153, 221 & 122---Persons not required to furnish a return of income---Payment for goods, services or contracts by prescribed persons---Rectification of mistake---Amendment of assessment---Mistake apparent on record---Definite information---Sales falling under normal tax regime or final tax regime---Debatable issue---Scope---Taxpayer filed normal returns for the tax years 2013 to 2017 which were…

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