Law: Income Tax Ordinance, 2001

Section: 131,221

Income Tax Ordinance (XLIX of 2001)].....Sections 131 & 221...Rectification of mistake...Application for...Appeal to Appellate Tribunal...Respondent/assessee a Public Limited Company managed and controlled by Government being State enterprise...Such legal status of assessee having been taken as that of a Private Limited Company, company filed application under S.221 of Income Tax Ordinance, 2001 for rectification of mistake...Rectification application was dismissed by the Taxation Officer holding the company a Private Limited Company...Appeal before Commissioner Income Tax (Appeals) against order of Taxation Officer, having been accepted, department filed appeal before Appellate Tribunal alleging that Commissioner (Appeals) had erred in admitting and accepting appeal against rejection of application for rectification...Validity...Assessee company was a State owned enterprise whose 100% shares were held by State Engineering Corporation...Said company was nationalized in pursuance of the Economic Reforms Order, 1972...Documents which had been discussed in the impugned orders of the officers below, had shown that company had come under the definition of 'Public Limited Company'...As 100% of shares of the company were held by State Engineering Corporation, which in turn was fully owned by Federal Government, shares of the company, would be deemed to have been held by the Federal Government...Legal issue involved in the case having already been settled in favour of assessee/company by the Tribunal, there was no justification not to follow the direction of the Tribunal, until and unless decision given by the Tribunal was reversed by the higher authorities...No justification was for interference in the impugned order of C.I.T. (A)/Commissioner (Appeals)...Same was upheld and appeals filed by the appellant/department were dismissed. 2003 PTD (Trib.) 1903, 1999 PTD 825 and 1992 PTD 570 ref. ORDER Through these three appeals the appellant Department has objected against the consolidated impugned order of learned CIT(A) dated 18-10-2006 for assessment years, 2001-2002, 2002-2003 and tax year 2003 on the following common grounds:-- "2. That the learned CIT(A) has erred…

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