Law: Income Tax Ordinance, 1979

Section: 89,156

Income Tax Ordinance (XXXI of 1979)--S.89---Charge of additional tax on failure to pay tax or penalty---Date of working of additional tax---In absence of "date of the month" in the notice, the time of payment had been impliedly extended in the demand note up to the last day of the month mentioned in the notice---Assessee was therefore, liable to make the payment on or before last day of the month---Where it was mentioned in the notice that demand be cleared within 15 days of the receipt of notice, mentioning of date and month would not be necessary and 15 days time shall run from the date of service of notice---If demand was reduced then additional tax would be payable on the reduced demand so worked out from the original due date till the said reduced demand was fully paid. ORDER S. HASAN IMAM (JUDICIAL MEMBER).---By this order we would prefer to decide the appeals captioned above. In the assessment year 1994-95, the assessee has challenged the order, dated 17-3-2003 passed by CIT(A) confirming the order passed under section 156. 2. Initially the rectification order was passed by the Assessing Officer whereby tax appears to have been charged at 49% as against the original rate of 30%. 3. The learned CIT(A) confirmed the order observing that there is a clear error apparent on the face of the record and treatment meted out by the learned DCIT after confronting the assessee as required under law for rectification under section 156 and to charge to tax the income represent from Khas Deposit Certificate amounting to Rs.3,513,518 at normal rate of income i.e. 49% instead of 30% is correct, calling no interference. 4. The learned counsel argued that the above income is assessable under the head of income on securities being separate block of income, therefore, cannot be charged at the rate of 49%, the issue taken into consideration in the order has never been confronted to the assessee, as such it is second thought reflecting change of opinion. 5. It is noted that in appellant's own case, the impugned treatment in respect of assessment year 1995-96, has already been upheld at the level of ITAT, therefore, action for rectification of the preceding years order to the…

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