Law: Income Tax Ordinance, 2001

Section: 38,131,221

Law: Income Tax Ordinance, 1979

Section: 80,62,80D

Income Tax Ordinance (XLIX of 2001)----Ss.38, 131 & 221---Income Tax Ordinance (XXXXI of 1979), S.80-D---Rectification of mistake---Appeal to Appellate Tribunal---Appellant/department through two appeals had impugned the consolidated order of Commissioner Income Tax (Appeals)---Commissioner Income Tax (Appeals), had deleted additions under S.80-D of (repealed) Income Tax Ordinance, 1979 on the gain on sale of land and it had been observed that S.80-D of (repealed) Income Tax Ordinance, 1979, had clearly stated that where no tax was payable by the company, then minimum tax payable would be 5% of the turnover of assessee--Since the tax payable by the assessee under S.80-CC of (repealed) Income Tax Ordinance, 1979 was lower than the tax worked out at 5% of the turnover of the assessee, tax under S.80-D of (repealed) Income Tax Ordinance, 1979 was charged in the original assessment under S.62 of (repealed) Income Tax Ordinance, 1979, but the Taxation Officer without any justification had rectified the order under S.221 of Income Tax Ordinance, 2001, despite the fact that for the assessment year 2002-2003 the assessee's contention in that regard had already been accepted by the Taxation Officer---Commissioner, Income Tax (Appeals), in circumstances had rightly held that tax under S.80-D of (repealed) Income Tax Ordinance, 1979 would be chargeable as had been charged in the original assessment under S.62 of said Ordinance---Appellate Tribunal had already held that the gain on the disposal of land was a capital gain not chargeable to tax---Tax under S.80-D of (repealed) Income Tax Ordinance, 1979 was chargeable on the turnover of the assessee and not on capital gains as it did not form a part of turnover---Commissioner Income Tax (Appeals) in circumstances had rightly deleted the tax, under S.80-D imposed on gain of sale of land. THIS ORDER PASSED BY: The department through these two appeals has objected to the consolidated impugned order of the learned CIT(A), dated 22-2-2007 for the assessment years 1999-2000 and 2000-2001 on the following common grounds:-- "That the learned Commissioner of Income Tax (Appeals) was not justified to order that the tax under…

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