| Case ID |
e20451aa-edd2-459a-b35b-ecb9361d8246 |
| Body |
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| Case Number |
ITA NO. 4932/LB/2023 |
| Decision Date |
Jan 25, 2024 |
| Hearing Date |
Nov 16, 2023 |
| Decision |
The decision rendered by the Appellate Tribunal Inland Revenue in ITA NO. 4932/LB/2023 revolves around the interpretation and application of Section 120 of the Income Tax Ordinance, 2001. The Tribunal, presided over by Accountant Member Anwaar Ul Haque, evaluated the arguments presented by both the appellant, M/s. Halmore Power Generation Company Ltd, and the respondent, The CIR, Zone-II, Corporate Tax Office, Lahore. The Tribunal's comprehensive analysis considered relevant legal precedents and the factual matrix surrounding the case. Ultimately, the decision aims to clarify the obligations and entitlements under the Income Tax Ordinance, ensuring compliance while addressing the appellant's concerns regarding tax assessments. |
| Summary |
In the case ITA NO. 4932/LB/2023, the Appellate Tribunal Inland Revenue in Lahore addressed key issues concerning the Income Tax Ordinance, 2001, particularly focusing on Section 120. The case arose from disputes regarding tax assessments made by the CIR, Zone-II, Corporate Tax Office, Lahore against M/s. Halmore Power Generation Company Ltd. The Tribunal's proceedings involved detailed submissions from both parties, represented by Mr. Muhammad Atiq Ur Rehman and Mr. Ubaid Ur Rehman. The decision is significant as it sheds light on taxpayer rights and the procedural aspects of income tax litigation, emphasizing the importance of adherence to statutory requirements. The Tribunal's ruling is expected to influence future tax cases and guide taxpayers in understanding their obligations. This case highlights the intricate balance between tax compliance and the rights of taxpayers, particularly in the context of corporate entities. The implications of this decision are critical for both legal practitioners and entities engaged in power generation and similar sectors, as they navigate the complexities of tax law. It serves as a precedent for how tax disputes may be resolved in the future, reinforcing the need for clear legal frameworks and adherence to established procedures. |
| Court |
Appellate Tribunal Inland Revenue
|
| Entities Involved |
M/s. Halmore Power Generation Company Ltd,
The CIR, Zone-II, Corporate Tax Office, Lahore
|
| Judges |
ANWAAR UL HAQUE
|
| Lawyers |
Mr. Muhammad Atiq Ur Rehman, ACA,
Mr. Ubaid Ur Rehman, DR
|
| Petitioners |
M/s. Halmore Power Generation Company Ltd
|
| Respondents |
The CIR, Zone-II, Corporate Tax Office, Lahore
|
| Citations |
2024 SLD 3703
|
| Other Citations |
Not available
|
| Laws Involved |
Income Tax Ordinance, 2001
|
| Sections |
120
|