Law: Income Tax Ordinance, 1979

Section: 156,135,12(18A)

Income Tax Ordinance (XXXI of 1979)---Ss. 156, 135 & 12(18A)---Rectification of mistake---Disposal of appeal by the Appellate Tribunal---Reported case of Income-tax Appellate Tribunal in a reference application---Rectification on the basis of said reported case----Obiter dictum of the Tribunal in a reported case of a reference application could not be made basis for settling a proposition of law by way of rectification application aimed at rectifying an order passed in the main appeal dealing with that proposition---No apparent mistake liable to be rectified within the ambit of provisions of S.156 of the Income Tax Ordinance, 1979 existed---Rectification application was rejected by the Tribunal. 2001 PTD (Trib.) 2065 and I.T.A. No. 497/IB of 1999-2000 ref. ORDER SYED MASOOD UL HASSAN SHAH (JUDICIAL MEMBER).---The assessee through this miscellaneous application under section 156 of the Income Tax Ordinance, 1979 (hereinafter called the Ordinance) has sought rectification of the order of the Tribunal, dated 20-6-2001 passed in I.T.A. No. 676/IB of 1997-98 in the case of the assessee for the assessment year 1995-96. 2. The assessee has sought rectification of the order on the averments as under:-- (1) That amounts of loan for Rs. 600,000 and Rs. 1,000,000 were received by the applicant during assessment years 1988-89 and 1989-90 while provisions of section 12(18A) were introduced in the Income Tax Ordinance, 1979 subsequently through Finance Act, 1992. Although year of assessment involved is assessment year 1995-96 but at the time of assessment on 30-8-1997, the said provisions of law stood omitted through Finance Act, 1996. This aspect did not receive due attention of the learned Bench. (2) That the applicant did not admit the liability for the year ended 30-6-1995 as by excluding the liability the applicant declared net wealth at Rs. 19,304,365 which was not objected to by the Assessing Officer. When no liability was declared by the applicant, application of section 12(18A) in the given situation is incorrect. (3) That in an identical case reported as 2001 PTD (Trib.) 2065, decided on 14-3-2001 a Division Bench of the I.T.A.T. at Lahore has already held that…

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