Law: Income Tax Ordinance, 2001

Section: 120,122(1),122(2),122(4),122(5),122(9)

Income Tax Ord. 2001(XL1X of 2001) - Sections 120, 122(1), 122(4), 122(5) & 122(9) - Reference to High Court - Amendment of assessments - Introduction of amendment in section: 122(4) through Finance Act, 2009 - Limitation to pass amendment order u/s 122(5) - Scope - Assessee filed income tax return for tax year 2006 declaring Nil income which attained status of assessment order u/s 120 of Ordinance - Subsequently, DCIR issued notice to taxpayer dated 22-06-2012 for amendment of assessment u/s 122(9) read with section 122(1) and 122(5) - Being not satisfied with reply of Taxpayer, DCIR amended assessment on 30-06-2012 - Said order ofDCIT was upheld by CIR(A1 in appeal - Before Tribunal, case of Respondent/Taxpayer was that u/s 122(4), order for amendment of assessment could only be passed within five years from date of assessment order i.e. till 31-12-2011 therefore, notice u/s 122(1), 122(9) and 122(5) issued on 22-06-2012 and amended assessment order dated 30-06-2012 was barred by limitation - Tribunal while accepting appeal of Taxpayer vacated orders passed by authorities below regarding Tar Year 2006 - Validity - Retrospective effect of amended section - Question of - Whether for purpose of limitation to amend and to further amend assessment order u/s 122(2) and 122(4) retrospectively, both provisions are more or less identical - Held yes - Whether before amendment in year 2009, both these provisions provided limitation of five years for amendment or further amendment of assessment order, after assessment order has issued or treated as having been issued by Commissioner - Held yes - Whether through Finance Act, 2009, both these provisions were amended in same fashion whereof limitation for amendment or further amendment of assessment order is to be reckoned from end of financial year when assessment order has been passed or treated to has been passed - Held yes - Whether amendment in section 122(2) of Ordinance through Finance Act, 2009, could not be applied retrospectively and limitation as it stood at time of filing of return, will be applicable to case of taxpayer assessee - Held yes - Whether in present case, income tax return was filed for tax year…

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