Law: Income Tax Ordinance, 1979

Section: 80B,156

Income Tax Ordinance (XXXI of 1979)----Ss.156 & 80 B Rectification of mistakes Minimum tax on income of certain persons Society "Company" Appellate Tribunal had held that society was not included in the definition of "company" and Assessing Officer was not justified in charging minimum tax under S.80 D of the Income Tax Ordinance, 1979 Application for rectification by the Department on the ground that through an amendment by Finance Act, 1999 all persons were made liable to minimum tax under S. 80 D of the Income Tax Ordinance, 1979 and Appellate Tribunal had made a mistake apparent from record in deciding that minimum tax was not applicable to the Society even if it was not to be treated as a company Validity Application moved by the Department was misconceived Section 80 D of the Income Tax Ordinance, 1979 was inserted by Finance Act, 1991 and the minimum tax was made chargeable in the cases of companies only, then through an insertion by Finance Act, 1992 registered firms were also included as assessees from whom minimum tax was liable to be charged and by the Finance Act, . 1999, "an individual, an Association of Persons, an unregistered firm, or a Hindu undivided family" were also made liable to pay minimum tax under S.80 D of the Income Tax Ordinance, 1979 Appellate Tribunal having held that Society was an artificial juridical person and artificial juridical person had not been made liable to minimum tax under S.80 D of the Income Tax Ordinance, 1979 through insertion by the Finance Act, 1999, application was rejected. ORDER This rectification application has been submitted by the department which is represented by Mr. Shoaib Ahmed Sethi, D.R. because Syed Tanveerul Haq, Taxation Officer, Circle 03, Cos. Zone V, Karachi has failed to appear alongwith records although he had shown his intention to assist the Bench as per his Letter No. TO/CIR 03/Cos V/2002 2003/36 dated 16 9 2002. 2. The departmental appeal for the assessment…

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