| Case ID |
41ac6306-e8db-4ef1-a718-18cc4fbe8684 |
| Body |
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| Case Number |
ITA NO. 5620/LB/2023 |
| Decision Date |
May 14, 2024 |
| Hearing Date |
Apr 25, 2024 |
| Decision |
The decision of the Appellate Tribunal Inland Revenue, Lahore, in case ITA NO. 5620/LB/2023, was delivered on 14th May 2024, following a hearing on 25th April 2024. The tribunal considered the arguments presented by the appellant, M/s. Baba Farid Sugar Mills Ltd, represented by Mirza Bilal Zafar, and the respondent, The CIR, LTO, Lahore, represented by Mr. Ahmed Mujtaba. The tribunal evaluated the applicability of the Income Tax Ordinance, 2001, specifically sections 122(1) and 120, in relation to the case at hand. The final judgment addressed the key issues raised during the hearing and provided a detailed analysis of the legal implications involved. The decision is significant in the context of income tax law and its enforcement in the region. |
| Summary |
In the case of ITA NO. 5620/LB/2023, the Appellate Tribunal Inland Revenue in Lahore addressed critical issues related to the Income Tax Ordinance, 2001. The case centered on the interpretation and application of sections 122(1) and 120, pivotal in determining tax liabilities for businesses. The tribunal's decision is expected to have significant implications for future tax assessments and appeals, particularly for entities like M/s. Baba Farid Sugar Mills Ltd. Legal representatives Mirza Bilal Zafar and Mr. Ahmed Mujtaba presented their arguments, showcasing the complexities involved in tax law disputes. This case highlights the importance of compliance with tax regulations and the role of appellate tribunals in adjudicating tax-related issues. As businesses navigate the intricate landscape of tax laws, the outcomes of such cases will shape the legal framework and compliance strategies in the industry. |
| Court |
Appellate Tribunal Inland Revenue
|
| Entities Involved |
The CIR, LTO, Lahore,
M/s. Baba Farid Sugar Mills Ltd
|
| Judges |
CH. MUHAMMAD TARIQUE
|
| Lawyers |
Mirza Bilal Zafar,
Mr. Ahmed Mujtaba
|
| Petitioners |
M/s. Baba Farid Sugar Mills Ltd
|
| Respondents |
The CIR, LTO, Lahore
|
| Citations |
2024 SLD 3693
|
| Other Citations |
Not available
|
| Laws Involved |
Income Tax Ordinance, 2001
|
| Sections |
122(1),
120
|