Case ID |
1af3c16c-f741-4b4a-b5f3-73b6fe202839 |
Body |
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Case Number |
I.T.A. No. 4258/LB of 2001 |
Decision Date |
Mar 11, 2002 |
Hearing Date |
Feb 08, 2002 |
Decision |
The Tribunal vacated the order of the Inspecting Additional Commissioner under section 66-A of the Income Tax Ordinance, 1979, concluding that the assessment for the preceding assessment year had been completed as per section 59(4). The Tribunal found that the Inspecting Additional Commissioner misinterpreted C.B.R. Circular No. 18 of 1999, which states that the income declared for the assessment year should be compared with the last declared income, not the highest income ever declared. Therefore, the assessment for the year 1999-2000 was deemed valid based on the income declared for the assessment year 1998-99. |
Summary |
This case revolves around the Income Tax Ordinance, 1979, particularly sections 59 and 66A, concerning assessments and the powers of the Inspecting Additional Commissioner. The Tribunal's ruling clarified the interpretation of income comparison required for assessments under the law, emphasizing the importance of adhering to established circular directives. The decision is significant for taxpayers and legal practitioners, as it establishes precedents for future cases involving income assessments and the interpretation of tax laws. The ruling reinforces the necessity for accurate legal interpretation and compliance with the laws governing income tax assessments, ensuring that taxpayers' rights are protected under the ordinance. By focusing on the relevant assessment years, the ruling helps delineate the legal framework surrounding income declarations, making it a critical reference for future tax-related disputes. |
Court |
Income Tax Appellate Tribunal
|
Entities Involved |
Not available
|
Judges |
SYED NADEEM SAQLAIN, JUDICIAL MEMBER,
AMJAD ALI RANJHA, ACCOUNTANT MEMBER
|
Lawyers |
Muhammad Zahid Baig,
Arif Hussain,
D. R.
|
Petitioners |
Not available
|
Respondents |
Not available
|
Citations |
2002 SLD 459,
2002 PTD 2781,
(2002) 85 TAX 373
|
Other Citations |
I.T.A. No. 2477/LB of 2001
|
Laws Involved |
Income Tax Ordinance, 1979
|
Sections |
59,
66A
|