Law: Income Tax Ordinance, 2001

Section: 80D,113,113(1),113(3),133(1)

Income Tax Ordinance (XLIX of 2001)---- Ss.113 ,  133(1)- Final Tax Return- Turnover- Dispute was with regard final discharge of liability over turnover- Validity- Turnover excluded tax paid or payable as final discharge of tax liability-  Explanation added through Finance Act, 2012 replicated exclusion of deemed income assessed as final discharge of tax liability as envisaged under S. 113(3) of Income Tax Ordinance, 2001- Appellate Tribunal Inland Revenue overlooked definition of ‘turnover’ and misconstrued S. 113(3) of Income Tax Ordinance, 2001- Income qualified under Final Tax Return did not form part of turnover, therefore, the same was not covered under minimum tax regime provided under S.113 of Income Tax Ordinance, 2001- Minimum tax regime established under S.113 of Income Tax Ordinance, 2001 prescribed mechanism for computation of minimum tax based on the value of turnover subject to conditions provided- Determination by Appellate Tribunal Inland Revenue that higher of the two taxes- either minimum tax under S.113 of Income Tax Ordinance, 2001 or final tax under Final Tax Return- could be levied was erroneous and contrary to the spirit of minimum tax regime defined under S.113 of Income Tax Ordinance, 2001- High Court set aside passed by Appellate Tribunal Inland Revenue and matter was remanded for decision a fresh by the Tribunal- Reference was allowed, in circumstances. Commissioner of Income Tax Legal Division, Lahore and others v. Khurshid Ahmad and others PLD 2016 SC 545 ref. JUDGMENT ASIM HAFEEZ, JUSTICE:---.--- This reference application along applications bearing ITR No.314/2015 and ITR No.315/2015 are directed against consolidated order dated 29.01.2015, passed by the Appellate Tribunal Inland Revenue, Lahore (“Appellate Tribunal”), in terms whereof appeals of the taxpayer were allowed in respect of the issues, subject matter of referred applications. All these reference applications, involving common questions of law, are hereby decided collectively. Matters relate to Tax Years 2010, 2011 and 2012. 2. Following questions of law are pressed for determination. “(i) Whether on facts and in circumstances of the case the learned ATIR was…

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