| Case ID |
147d28e3-17c4-46da-81fa-8caf851205a1 |
| Body |
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| Case Number |
I.T.A. No.29 of 2000 |
| Decision Date |
Sep 26, 2001 |
| Hearing Date |
Sep 26, 2001 |
| Decision |
The High Court dismissed the appeal in limine on the basis that the findings of the Tribunal were primarily based on the appreciation of facts. It was observed that the Tribunal's conclusions regarding the applicability of Section 13(1)(a) of the Income Tax Ordinance, 1979 were in accordance with law. The court found no substantial question of law requiring interpretation arose from the Tribunal's order, leading to the dismissal of the appeal without further costs. |
| Summary |
The case revolves around an appeal filed by the Commissioner of Income Tax against Messrs B.C.C.I. Overseas Ltd regarding the assessment year 1989-90. The primary issues concerned the introduction of cash in the form of benami deposits and whether these constituted cash credit under Section 13(1)(a) of the Income Tax Ordinance, 1979. The Tax Appellate Tribunal had upheld the findings of the CIT(A) which deleted the additions made by the Assessing Officer. The High Court found that the Tribunal's observations were in accordance with law and dismissed the appeal, establishing a precedent on the burden of proof in tax assessments for banking entities. The case highlights the importance of evidence and the proper application of tax laws, especially in the context of foreign currency accounts and benami transactions. The ruling reinforces the legal principle that the burden rests on the department to prove the nature of deposits, further solidifying taxpayer rights in income tax cases. |
| Court |
Sindh High Court
|
| Entities Involved |
B.C.C.I. OVERSEAS LTD
|
| Judges |
ZAHID KURBAN ALVI,
MUHAMMAD MUJEEBULLAH SIDDIQUI
|
| Lawyers |
Muhammad Fareed,
Rehan Hasan Naqvi,
Miss Lubna Pervez
|
| Petitioners |
COMMISSIONER OF INCOME TAX
|
| Respondents |
Messrs B.C.C.I. OVERSEAS LTD
|
| Citations |
2002 SLD 180,
2002 PTD 1197,
(2002) 86 TAX 224
|
| Other Citations |
Lungnla Tea Company v. The Commissioner of Income-tax, Dacca 1970 SCMR 872
|
| Laws Involved |
Income Tax Ordinance, 1979
|
| Sections |
13,
13(1)(a),
136(1)
|