| Case ID |
eca5a403-100e-4426-b2c3-7d30557f03d8 |
| Body |
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| Case Number |
ITA No. 706/LB/2012 |
| Decision Date |
Jun 08, 2017 |
| Hearing Date |
Jun 05, 2017 |
| Decision |
The appeal filed by the department was dismissed as it lacked merit. The Tribunal upheld the decision of the learned CIR(A) regarding the addition under section 111(1)(b) and the deletion of expenses under section 153(6). It was found that the assessing officer did not properly account for the opening and closing stock figures for the tax year 2008, which should have informed the 2009 figures. The absence of the taxpayer's representation during the proceedings further solidified the Tribunal's decision to maintain the appellate order. |
| Summary |
In the case of ITA No. 706/LB/2012, the Appellate Tribunal Inland Revenue in Lahore addressed significant issues regarding tax assessments under the Income Tax Ordinance, 2001. The department challenged the learned CIR(A)'s order from February 15, 2012, which had partially favored the taxpayer. The primary issues revolved around the addition of unexplained income and the treatment of expenses. The Tribunal found that the assessing officer had not justified the addition based on a proper analysis of stock figures, leading to the conclusion that the learned CIR(A)'s order should be upheld. This case emphasizes the importance of accurate record-keeping and the proper application of tax laws, particularly sections 111(1)(b) and 153(6) of the Income Tax Ordinance. The final decision reinforces the need for due diligence in tax assessments and the rights of taxpayers to appeal unjustified additions. This case is relevant for tax practitioners and businesses navigating tax audits and appeals, as it highlights critical aspects of tax law interpretation and compliance. |
| Court |
Appellate Tribunal Inland Revenue, Lahore
|
| Entities Involved |
National Feeds Limited
|
| Judges |
CH. SHAHID IQBAL DHILLON,
ABDUL NASIR BUTT
|
| Lawyers |
Mr. Soban Ahmad, DR.
|
| Petitioners |
The CIR, Zone-IX, RTO-II, Lahore
|
| Respondents |
M/S. National Feeds Limited, Lahore
|
| Citations |
2017 SLD 1149
|
| Other Citations |
Not available
|
| Laws Involved |
Income Tax Ordinance, 2001
|
| Sections |
111(1)(b),
153(6),
120,
177,
122(1)
|