Case ID |
0a645622-4417-4609-88f8-44a7def3bb09 |
Body |
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Case Number |
ITA NO. 282/MB/2024 |
Decision Date |
Apr 04, 2024 |
Hearing Date |
Apr 02, 2024 |
Decision |
The Appellate Tribunal Inland Revenue, Multan Bench, upon hearing the case of Mr. Ghafoor Cotton Mills, PVT. Ltd, against The CIR, RTO, Multan, evaluated the arguments presented by both parties. The tribunal carefully considered the provisions of the Income Tax Ordinance, particularly Section 161, which pertains to the obligations and liabilities of taxpayers. After thorough deliberation, the tribunal rendered its decision on April 4, 2024, affirming the importance of compliance with tax regulations and the implications of non-compliance. The tribunal emphasized the necessity for businesses to adhere to tax laws to avoid penalties and ensure fair taxation. |
Summary |
In the case before the Appellate Tribunal Inland Revenue, Multan Bench, the key issue revolved around the tax obligations of Mr. Ghafoor Cotton Mills, PVT. Ltd, as it faced scrutiny from The CIR, RTO, Multan. The tribunal's examination of the Income Tax Ordinance, 2001, particularly Section 161, underscored the critical nature of adherence to tax responsibilities by corporations. The decision reiterated the legal framework governing taxation in Pakistan and highlighted the consequences of failing to meet these obligations. The ruling served as a reminder to businesses of their duties under the law and the importance of maintaining transparent and compliant financial practices. The outcome of this case is expected to have implications for similar entities navigating the complexities of tax compliance in Pakistan. |
Court |
Appellate Tribunal Inland Revenue, Multan Bench
|
Entities Involved |
Mr. Ghafoor Cotton Mills, PVT. Ltd, Multan,
The CIR, RTO, Multan
|
Judges |
IMRAN LATIF MINHAS
|
Lawyers |
Mr. Shabbir Fakhar-ud-din,
Mr. Mashooq Hussain
|
Petitioners |
Mr. Ghafoor Cotton Mills, PVT. Ltd, Multan
|
Respondents |
The CIR, RTO, Multan
|
Citations |
2024 SLD 3448
|
Other Citations |
Not available
|
Laws Involved |
Income Tax Ordinance, 2001
|
Sections |
161
|