C.No. 3(25)Appeals/2020 Vol-IV/91178-R, Islamabad, the 20th May, 2024

SROS: C.No. 3(25)Appeals/2020 Vol-IV/91178-R, Islamabad, the 20th May, 2024 TAX LAWS (AMENDMENT) ACT, 2024 - CHANGES IN PERIODS OF LIMITION FOR INSTITUTION OF APPEALS AND REFERENCES IN THE APPELLATE TRIBUNAL AND THE HIGH COURTS - INSTRUCTIONS REGARDING. Most Immediate GOVERNMENT OF PAKISTAN REVENUE DIVISION FEDERAL BOARD OF REVENUE (LEGAL WING) ****** C.No. 3(25)Appeals/2020 Vol-IV/91178-R Islamabad, the 20th May, 2024 All Commissioners Inland Revenue (Appeals) SUBJECT: TAX LAWS (AMENDMENT) ACT, 2024 - CHANGES IN PERIODS OF LIMITION FOR INSTITUTION OF APPEALS AND REFERENCES IN THE APPELLATE TRIBUNAL AND THE HIGH COURTS - INSTRUCTIONS REGARDING. I am directed to refer to the above subject and to say that the Tax Laws (Amendment) Act, 2024 passed by the Parliament has received the assent of the Hon’ble President of Pakistan on 3rd May 2024. Newly inserted section 126A of the Income Tax Ordinance, 2001, section 43A of Sales Tax Act, 1990 and section 33A of the Federal Excise Act, 2005 have introduced following pecuniary limits for filing of appeal before the Commissioner (Appeals) and the Appellate Tribunal and exercise of appellate jurisdiction by these fora:- Sr. No Tax Law Pecuniary Jurisdiction of Commissioner (Appeals) Pecuniary Jurisdiction of Appellate Tribunal [1] [2] [3] [4] 1 Income Tax Ordinance, 2001 (Section 126A) Where value of assessment of tax or, as the case may be, refund of tax does not exceed 20 million rupees. Where value of assessment of tax or, as the case may be, refund of tax does exceed 20 million rupees. 2 Sales Tax Act, 1990 (Section 43A) Where value of assessment of tax or, as the case may be, refund of tax does not exceed 10 million rupees. Where value of assessment of tax or, as the case may be, refund of tax does exceed 10 million rupees. 3 Federal Excise Act, 2005 (Section 33A) Where value of assessment of tax or, as the case may be, refund of tax does not exceed 5 million rupees. Where value of assessment of tax or, as the case may be, refund of tax does exceed 5 million rupees. 02. In terms of sub section (4) of newly inserted section 126A of the Income Tax Ordinance, 2001 and the respective sections in the other Inland Revenue…