Law: Income Tax Ordinance, 2001

Section: 133(1),

Law: Income Tax Ordinance, 1979

Section: 136(1),80D,2(16),SecondSched.,Cl.(88)

Income Tax Ordinance (XLIX of 2001)-----S. 133(1) Income Tax Ordinance (XXXI of 1979), Ss. 136(1), 80D, 2(16) & Second Sched., Cl. (88) Reference to High Court Question of law Status of Lahore Development Authority was held as local authority by the Appellate Tribunal and income of the same was treated as exempt, under, Cl. (88) of the Second Sched. of the Income Tax Ordinance, 1979 Application for reference to High Court Validity ¬Question of law had arisen Questions framed by the Revenue however were contused, overlapping and repetitive Questions framed by the Appellate Tribunal referred to High Court were that whether on the facts and in the circumstances of the case the Appellate Tribunal was justified to hold that Lahore Development Authority was a local authority and exempt from tax under cl. (88) of the Second Sched. to the Income Tax Ordinance, 1979 that whether on the facts and in the circumstances of the case the Appellate Tribunal was justified to hold that demand of minimum tax raised by the Assessing Officer under S.80D was illegal and that whether on the facts and in the circumstances of the case the Appellate Tribunal was justified to hold that demand of minimum tax under S.80D of the Income Tax Ordinance, 1979 could be created only when income/loss was determined and tax payable or paid was less than 0.5 % of the total turnover of the assessee? STATEMENT OF THE CASE MUHAMAMD SHARIF CHAUDHRY (ACCOUNTANT MEMBER). In the titled case reference applications for the years 1992 93 to 1993 94 have been submitted at the instance of Revenue under section 133(1) of the Income Tax Ordinance, 2001 urging this Tribunal to refer the following questions of law to the High Court for the opinion of their lordships, as the said questions are stated to have arisen from the appellate order of the ITAT, dated 26 5 2003 passed in ITA Nos. 2785 to 2787/LB/2001 relating to the above mentioned assessment years: (i) Whether under the facts and in the circumstances of the case the learned ITAT was justified to agree with the contention of ARs of the assessee concerning status of LDA being local authority, when the issue of local authority was not sub judice before…

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