| Case ID |
0ab7758a-2e73-4368-b22d-ba9d89421cf5 |
| Body |
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| Case Number |
I.T.A. No.274/LB of 2003 |
| Decision Date |
Oct 08, 2003 |
| Hearing Date |
Oct 08, 2003 |
| Decision |
The Appellate Tribunal vacated the orders of both the First Appellate Authority and the Assessing Officer. The Tribunal found that the First Appellate Authority had incorrectly cancelled the assessment despite acknowledging that books of accounts were maintained by the assessee. The Tribunal ruled that the case should have been remanded to the Assessing Officer for further consideration based on the merits of the case. Hence, the case was remitted back for de novo consideration, specifically instructing that it be decided strictly on its merits. |
| Summary |
In the case I.T.A. No.274/LB of 2003, the Appellate Tribunal Inland Revenue addressed significant issues regarding the cancellation of an assessment by the First Appellate Authority. The decision highlighted critical aspects of the Income Tax Ordinance, 1979, particularly Section 132. The Tribunal observed that the First Appellate Authority had recognized that the books of accounts were maintained, yet it proceeded to cancel the assessment without proper justification. This led to a ruling that emphasized the importance of remanding cases for further consideration when essential evidence is acknowledged but not appropriately evaluated. The decision underscores the principles of fair assessment and the necessity for authorities to adhere to legal standards when determining the validity of financial records. The ruling also serves as a reminder of the importance of maintaining accurate financial records and the legal obligations of tax authorities. |
| Court |
Appellate Tribunal Inland Revenue
|
| Entities Involved |
Not available
|
| Judges |
MUHAMMAD TAUQIR AFZAL MALIK,
JAVED TAHIR BUTT
|
| Lawyers |
Tauqir Akbar, D.R.,
Ch. Abdul Ghafoor, ITP
|
| Petitioners |
Not available
|
| Respondents |
Not available
|
| Citations |
2004 SLD 154,
2004 PTD 687
|
| Other Citations |
2001 PTD (Trib.) 2038,
2002 PTD (Trib.) 1583
|
| Laws Involved |
Income Tax Ordinance, 1979
|
| Sections |
132
|