| Citation(s) |
|---|
| 2008 SLG 75 2008 SLD 75 2008 PTD 403 |
Income Tax Appellate Tribunal
I.T.As. Nos. 6475/LB, 6476/LB of 2004 and 502/LB of 2006, 2313/LB, 2314/LB of 2005, decision dated: 6-11-2007
SYED NADEEM SAQLAIN, JUDICIAL MEMBER AND MAZHAR FAROOQ SHIRAZI, ACCOUNTANT MEMBER
Ghazanfer Hussain D.R. for Appellant (in I.T.As.Nos.6475/LB, 6476/LB of 2004 and 502/LB of 2006). Siraj Khalid for
Respondent (in I.T.As. Nos.6475/LB, 6476/LB of 2004 and 502/LB of 2006). Siraj Khalid for Appellant (in I.T.As. Nos.2313/LB and 2314/LB of 2
I.T.As. Nos. 6475/LB, 6476/LB of 2004 and 502/LB of 2006, 2313/LB, 2314/LB of 2005, decision dated: 6-11-2007
SYED NADEEM SAQLAIN, JUDICIAL MEMBER AND MAZHAR FAROOQ SHIRAZI, ACCOUNTANT MEMBER
Ghazanfer Hussain D.R. for Appellant (in I.T.As.Nos.6475/LB, 6476/LB of 2004 and 502/LB of 2006). Siraj Khalid for
Respondent (in I.T.As. Nos.6475/LB, 6476/LB of 2004 and 502/LB of 2006). Siraj Khalid for Appellant (in I.T.As. Nos.2313/LB and 2314/LB of 2
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Law: Income Tax Ordinance, 2001
Section: 122
Law: Income Tax Ordinance, 1979
Section: 62
(a) Income Tax Ordinance (XLIX of 2001)---S. 122---Income Tax Ordinance (XXXI of 1979), S. 62---Amendment of assessment--Amended assessment was cancelled by the First Appellate Authority as the provisions of S.122 of the Income Tax Ordinance 2001 were not applicable to the orders passed prior to its enforcement---Validity---Assessment was completed under S. 62 of the Income Tax Ordinance, 1971---Case having been decided in the light of of High Court, was not interfered by the Appellate Tribunal. 2001 PTD 1525 rel. (b) Income Tax Ordinance (XLIX of 2001)--- ----S.122---Income Tax Ordinance (XXXI of 1979), S.62---Amendment of assessment---Assessment was finalized before 1-7-2003---Amendment of such assessment---Assessment was set aside by the First Appellate Authority--- Validity---Re-assessment proceedings under S.122 of the Income Tax Ordinance 2001 were initiated by issuance of notice on 15-4-2004 and completed on 25-5-2004---Assessments in question already stood completed under S.62 of the Income Tax Ordinance, 1979 meaning thereby that nothing was pending before promulgation of Income Tax Ordinance 2001---Assessments finalized before 1-3-2003 could not be reopened revised/amended in exercise of jurisdiction under the provision of law---First Appellate Authority was not justified in setting aside the case---Order of First Appellate Authority was vacated and amended assessment order under S.122 of the Income Tax Ordinance, 2001 were annulled. 2005 PTD1316; 2006 PTD 734 and 2006 SCMR 109 rel. ORDER The assessee as well as the Revenue are in cross-appeal for the assessment years 2001-2002 and 2002-2003 against the combined impugned order, dated 2-8-2004 passed by the learned CIT(A) Bahawalpur. The Revenue has objected to the setting aside of the case for de novo proceedings while the assessee has contested that the learned CIT(A) was not justified in setting aside the case, rather the same should have been cancelled. For the assessment year 2000-2001 the revenue has also come up in appeal against the cancellation of order passed under section 122(1) of the Income Tax Ordinance, 2001. 2. Briefly stated the facts of the case are that assessee in an AOP deriving…
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