Law: Income Tax Ordinance, 1979

Section: 12,12(18),24,24(ff),50,50(1),50(4),108,1 08(b),116,139,142

Law: Income Tax Rules, 1982

Section: 53,61

(a) Income tax Profit & Loss account Sale promotion expenses Such expenses allowed to the extent of 45 % were confirmed by the Appellate Tribunal. I.T.As. Nos. 2801 and 281/LB of 2000 and I.T.A. No.5350/LB of 1997 rel. (b) Income Tax Ordinance (XXXI of 1979)]...Ss. 108(b), 139, 142, 116 & 50(1)(4) Income Tax Rules, 1982, Rr.53 & 61 Penalty for failure to furnish return of total income and certain statements Late filing of statements showing Nil tax deduction -Levy of penalty Validity Statements were available on record showing tax deduction at Nil Tax was not deductible on salaries paid to employees No payment was made to any party which attracted the provisions of S.50(4) of the Income Tax Ordinance, 1979 Rule 53 of the Income Tax Rules, 1982 did not require furnishing of statement under S.139 of the Income tax Ordinance, 1979 in the circumstances -Assessee had also not committed any default under S.142 of the Income Tax Ordinance, 1979 as he did not make any payment to any party attracting deduction under S.50(4) of the Income Tax Ordinance, 1979 -Penalties deleted by the First Appellate Authority were confirmed by the Appellate Tribunal. I.T.A. No. 3412/LB of 1999 rel. (c) Income Tax Ordinance (XXXI of 1979) - S.12(18) Income deemed to accrue or arise in Pakistan Advances -Business activity/transaction Addition was made on account of sum received in cash against purchase of tickets on behalf of parties on the ground that once advance is received other than crossed cheque, there was hardly any justification for going into the nature of the advance or for that matter finding out whether it was a trade/business advance or receipt of cash otherwise Validity For the purposes of purchase of ticket the buyer paid a sum while the ticketing agency handed over ticket after few days on fulfillment of the requirements of issuance and confirmation of the dates During that period, deposit remained in the custody of seller yet could not be termed as advance in the spirit of S.12(18) of the Income Tax Ordinance, 1979 Nature of advance in fact was not advance in cash other than the ordinary business transaction which did not fall within the mischief of the…

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