Law: Income Tax Ordinance, 1979

Section: 66A,24(1),16(2)(b)(iv),5(1)(cc)

(a) Income Tax Ordinance (XXXI of 1979)----Ss. 66-A) 24(1) & 16(2)(b)(iv)---Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order---Addition made by the Inspecting Additional Commissioner under S.66-A of the Income Tax Ordinance, 1979 on account of concessional and reduced interest on loan granted by assessee/employer to its employee for purpose of house building and transport was confirmed by the Appellate Tribunal. I.T.A. No. 652/KB(H.Q) of 1999-2000 rel. (b) Income Tax Ordinance (XXXI of 1979)-----Ss. 66-A & 5(1)(cc)---Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order---Jurisdiction---Assumption of jurisdiction by the Inspecting Additional Commissioner under S.66-A of the Income Tax Ordinance, 1979, who made assessment as Chairman of the Panel, was not proper and order passed was cancelled on the point of jurisdiction by the Appellate Tribunal. 2001 PTD 1467; I.T.A. No.-165/HQ of 1999-2000 and I.T.A. No. 1259/KB of 1991-92 ref. ORDER JAVAID IQBAL (JUDICIAL MEMBER).-----These four appeals. at the instance of assessee are instituted against the orders recorded by learned IAC under section 66-A of the Income Tax Ordinance, 1979, (hereinafter called Ordinance), assessee agitated the order of learned CIT(A) on the following issue. That the learned IAC has erred in law in invoking jurisdiction under section 66-A of the Income Tax Ordinance, 1979. That the learned IAC, of Income Tax has erred in making an addition of Rs. 6,514,000 under section 24(1) read with section 16(2)(6)(iv) of the Income Tax Ordinance, 1979. 2. Besides the above stated objections the learned A.R.. of the assessee for assessment year 1999-2000 took additional objection that as the learned IAC being member of Income Tax Penal constituted under section 5(1)(cc) of the Income Tax Ordinance was involved in original assessments hence subsequent action of learned IAC under section 66-A is not tenable being of equal authority in status. 3. Both the parties were represented through their respective representatives and were heard. The learned AR of the assessee assailed the orders recorded by learned IAC, while learned D.R. Mr.…

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