| Case ID |
00c6d1a5-8260-45ba-b23f-7a0e973a0368 |
| Body |
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| Case Number |
I.T.As. Nos. 378 to 380/PB of 1995-96 |
| Decision Date |
Sep 20, 1997 |
| Hearing Date |
Aug 26, 1997 |
| Decision |
The court ruled that the assessing officer's rectification of tax assessments for the years 1992-93 and 1993-94 under section 156 was improper as it was based on a mere change of opinion rather than a mistake apparent from the record. For the assessment year 1994-95, the court upheld the assessing officer's decision to charge tax on interest income at normal rates, confirming that the provisions of section 80-B did not apply to companies. The appeals for the assessment years 1992-93 and 1993-94 were rejected, while the appeal for 1994-95 was accepted in favor of the Department. |
| Summary |
This case revolves around the application of the Income Tax Ordinance, 1979, specifically sections 2(32), 80-B, and 156. The Appellate Tribunal Inland Revenue addressed the tax assessments of a private limited company concerning its income from manufacturing and sale of plastic goods. The tribunal examined whether the provisions of section 80-B were applicable to the company, which was ultimately found not to be the case. The decision highlighted the distinction between different types of juridical persons and clarified that the assessing officer's rectification actions were based on a change of opinion rather than a clear mistake. This case underscores the complexities of tax law interpretation and the importance of proper legal representation in tax matters. Keywords include Income Tax Ordinance, tax assessment, juridical person, and tax law interpretation. |
| Court |
Appellate Tribunal Inland Revenue
|
| Entities Involved |
Not available
|
| Judges |
Abdur Rehman Afridi,
Fazalur Rehman Khan
|
| Lawyers |
Hidayatur Rehman,
Muhammad Mirza
|
| Petitioners |
Not available
|
| Respondents |
Not available
|
| Citations |
1998 SLD 211,
1998 PTD 1379,
(1998) 77 TAX 151
|
| Other Citations |
I.T.As. Nos. 1144, 977, 2570, 833/LB of 1981-82 and 1982-83,
Law of Income Tax by Acharya and Shuklendra, 1988 Edn.,
PLD 1976 Kar. 1022
|
| Laws Involved |
Income Tax Ordinance, 1979
|
| Sections |
2(32),
80-B,
156,
5.156
|