| Case ID |
00a3e4d2-6ef4-4e50-92ff-0f6976c5c902 |
| Body |
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| Case Number |
I.T.As. Nos.5048/LB, 6173/LB to 6176/LB of 2004 an |
| Decision Date |
Feb 12, 2007 |
| Hearing Date |
|
| Decision |
The Income Tax Appellate Tribunal upheld the decision of the First Appellate Authority regarding the rectification of mistakes under Section 156 of the Income Tax Ordinance, affirming that the limitation period for rectification starts from the date of the original order. The Tribunal confirmed the cancellation of the order under Section 156 as it was issued after the expiration of the four-year limitation period. Additionally, the Tribunal vacated the order of the First Appellate Authority regarding the rejection of the declared accounts, stating that there was no justification for such rejection given the history of the case and the maintained books of accounts. The Tribunal directed the acceptance of the declared trading results for the years in question. |
| Summary |
This case involves the Income Tax Appellate Tribunal's decision on multiple appeals concerning assessments under the Income Tax Ordinance, 1979. The Tribunal addressed critical issues regarding the limitation period for rectification of mistakes under Section 156, confirming that such actions must be taken within four years of the original assessment order. The case also revolved around the validity of the rejection of declared trading results by the Assessing Officer, which was found unjustified based on the company's consistent accounting practices and previous acceptance of its accounts. The Tribunal emphasized the importance of adhering to the historical context of assessments and the need for valid reasons when deviating from established practices. This ruling serves as a significant reference for future cases involving tax assessments and rectifications, highlighting the necessity for tax authorities to maintain consistency and follow procedural requirements. |
| Court |
Income Tax Appellate Tribunal
|
| Entities Involved |
Not available
|
| Judges |
ABDUL HAMEED DOGAR,
SAIYED SAEED ASHHAD
|
| Lawyers |
Mrs. Sabiha Mujahid,
Younis Khalid
|
| Petitioners |
Not available
|
| Respondents |
Not available
|
| Citations |
2007 SLD 49 = 2007 PTD 974
|
| Other Citations |
(1998) PTCLR 54,
2002 PTD 2407,
1994 PTD (Trib.) 858,
2002 PTD 407,
2005 PTD 2417,
2002 PTD (Trib.) 1583,
2003 PTD (Trib.) 2668,
2001 PTD (Trib.) 2938,
(Vol.8 No.5 Tax Form 62 (Trib.)),
1999 PTD (Trib.) 3892,
2001 PTD 2612,
2001 PTD (Trib.) 2941,
1994 PTD 516,
1962 PTD (Trib.) 123,
1974 PTD 45,
1984 PTD 276,
(1985) 52 Tax 115
|
| Laws Involved |
Income Tax Ordinance, 1979
|
| Sections |
62,
156
|