Law: Income Tax Ordinance, 2001

Section: 122,122(4A)

Law: Income Tax Ordinance, 1979

Section: 65&66A-7

Law: General Clauses Act, 1897

Section: 6

(a) Income Tax Ordinance (XLIX of 2001)---S.122(4-A) [as inserted by Finance Act (I of 2003)] & (5-A)---General Clauses Act (X of 1897), S.6---Income Tax Ordinance (XXXI of 1979), Ss. 65 & 66-A-7-Assessment finalized under S.65, of Income Tax Ordinance, 1979---Reopening of such assessment after promulgation of Income Tax Ordinance, 2001---Limitation---New legislation could extend a limitation, which had already expired prior to operation of new law---Where limitation in respect of matter under earlier law had not expired on date of operation of new law, such matter would be governed by S.6 of General Clauses Act, 1897---Limitation of five years provided under S.65 of Income Tax Ordinance, 1979 would remain unchanged while applying thereto provision of S.122 of Income Tax Ordinance, 2001---Provision of S.122 of Income Tax Ordinance, 2001 did not speak of limitation provided in S.66-A of Income Tax Ordinance, 1979---Provision of S.122 of Income Tax Ordinance, 2001 for being not retrospective in operation would not apply to assessment years of assessee assessed under Income Tax Ordinance, 1979 for being closed and finalized transactions---Principles. Messrs Kashmir Edible Oil v. Federation of Pakistan 2005 PTD 1621 and Fauji Oil Terminal v. Commissioner of Income Tax 2006 PTD 734 rel. (b) General Clause Act (X of 1897)--- ----S.6---Expiry of a limitation provided under repealed law prior to operation of new law---Effect stated. No legislation can extend a limitation, which has already expired prior to the operation of the new law, while if, on date of operation of new legislation, the limitation has not expired in respect of earlier laws, the matter would be governed by S.6 of General Clauses Act, 1897. Thus, there is no need for further emphasis through another amendment. JUDGMENT KH. FAROOQ SAEED, J.---By this single judgment, we propose to dispose of T.R. No.87 of 2006, T.R. No.39 of 2006, T.R. No.70 of 2006, T.R. No. 71 of 2006, T.R. No.72 of 2006, T.R. No. 84 of 2006, and T.R. No.85 of 2006, as the common question of law and facts are involved. 2. In these appeals filed by the Department, the claim remains that the provisions of section 122 of the…

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