Law: Income Tax Ordinance, 1979

Section: 50,50(2A),80,80D,143,143B

(a) Income Tax Ordinance (XXXI of 1979)----Ss. 80-D, 50(2A) & 143-B---Minimum tax on income of certain persons---Turnover---Subsidies, donation and exchange gain---Inclusion of subsidies, donation and exchange gain to total turnover by the Assessing Officer was confirmed by the First Appellate Authority---Validity-Assessing Officer included the receipts/gain in the turnover without discussing as to how these were included in turnover as defined in explanation to S.80-D of the Income Tax Ordinance, 1979---Order was set aside by the Appellate Tribunal for de novo order after confronting the taxpayer as to how the items of receipts/gain fell within the definition of turnover. (b) Income Tax Ordinance (XXXI of 1979)--- ---Ss. 50(2A) & 80-D---Deduction of tax at source---Credit of tax---Tax paid under S.50(2A) of the Income Tax Ordinance, 1979 was final discharge of tax liability under S.80-B of the Income Tax Ordinance, 1979 and could not be allowed as a credit against any other tax liability under the Income Tax Ordinance, 1979. ORDER These two appeals have been filed on behalf of assessee against the order of the learned CIT(A), dated 4-5-2005 and 27-5-2005, on the following grounds:-- Assessment year 1999-2000 The learned CIT(A) erred in maintaining the determination of Turnover at Rs.12;744,315 which includes the following which are not turnover as defined in Explanation to 80D. Subsidies Rs.2,791,066 Donation Rs. 161,301 Profit on SSC Rs. 417,909 Exchange gain Rs. 976,218 Total Rs. 4,346,494 * The learned CIT(A) erred in maintaining the amount payable under section 80D at Rs.63,872 which is erroneously worked out as this amount includes 80D on items not includible amounting to Rs.4,346,494 detailed in para. 1 above. * The learned CIT(A) further erred in not directing the Taxation Officer to consider the tax paid amounting to Rs.24,443 under section 80B while computing the tax payable under section 80D. * The learned CIT(A) erred in not directing the Taxation Officer to allow credit for tax paid amounting to Rs.24,443 paid under section 50(2A)/80B. Assessment year 2000-2001 * The learned CIT(A) erred in stating that the order under appeal was served on…

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