AVN 64.80 Increased By ▲ 0.63 (0.98%)
BAFL 30.90 Increased By ▲ 1.00 (3.34%)
BOP 4.73 Increased By ▲ 0.10 (2.16%)
CNERGY 3.87 Decreased By ▼ -0.02 (-0.51%)
DFML 13.44 Increased By ▲ 0.09 (0.67%)
DGKC 41.34 Increased By ▲ 0.49 (1.2%)
EPCL 46.23 Decreased By ▼ -0.77 (-1.64%)
FCCL 11.39 Increased By ▲ 0.39 (3.55%)
FFL 5.05 Decreased By ▼ -0.03 (-0.59%)
FLYNG 5.81 Increased By ▲ 0.04 (0.69%)
GGL 9.90 Increased By ▲ 0.15 (1.54%)
HUBC 64.06 Increased By ▲ 2.11 (3.41%)
HUMNL 5.67 Increased By ▲ 0.02 (0.35%)
KAPCO 27.83 Increased By ▲ 0.25 (0.91%)
KEL 2.13 Decreased By ▼ -0.02 (-0.93%)
LOTCHEM 24.35 Increased By ▲ 0.05 (0.21%)
MLCF 21.36 Increased By ▲ 0.64 (3.09%)
NETSOL 84.43 Increased By ▲ 1.33 (1.6%)
OGDC 87.80 Increased By ▲ 1.75 (2.03%)
PAEL 10.92 Increased By ▲ 0.12 (1.11%)
PIBTL 4.17 Increased By ▲ 0.03 (0.72%)
PPL 77.53 Increased By ▲ 1.34 (1.76%)
PRL 13.65 Decreased By ▼ -0.01 (-0.07%)
SILK 0.88 Decreased By ▼ -0.01 (-1.12%)
SNGP 41.75 Increased By ▲ 1.00 (2.45%)
TELE 5.89 Increased By ▲ 0.01 (0.17%)
TPLP 15.81 Increased By ▲ 0.16 (1.02%)
TRG 112.65 Increased By ▲ 2.55 (2.32%)
UNITY 13.97 Increased By ▲ 0.22 (1.6%)
WTL 1.14 Decreased By ▼ -0.01 (-0.87%)
BR100 4,048 Increased By 80.6 (2.03%)
BR30 14,467 Increased By 282.1 (1.99%)
KSE100 40,673 Increased By 801.8 (2.01%)
KSE30 15,190 Increased By 292.7 (1.96%)
Follow us

ISLAMABAD: The Lahore High Court (LHC) has issued a stay order against the enhancement of income/assessment of a taxpayer by the Commissioner Inland Revenue (Appeals) under the Income Tax Ordinance 2001.

In this regard, the LHC has stayed the enhancement of income proceedings/notices issued by the Federal Board of Revenue (FBR) Commissioner Inland Revenue (Appeals) exercising powers to enhance the income/assessment, while working as an appellate authority against assessments framed by the FBR field formations.

A taxpayer has challenged the notices, issued by the FBR’s Commissioner Appeals to enhance the assessment/income, through tax lawyer Waheed Shahzad Butt in constitutional jurisdiction before the LHC, wherein, after hearing the rival parties, the LHC has restrained the Commissioner Appeals to proceed in the matter of enhancement of income in terms of Section 129 of the Income Tax Ordinance, 2001.

Petitioner states, all of sudden after lapse of 2,212 days from the date of filing of income tax and deemed order in terms of Section 120 of the Income Tax Ordinance, 2001, the learned CIR-A has issued a novel show cause notice on 20.10.2021 alleging therein that the petitioner’s income is liable to be further amended with the certain landmark observations having no effect in the eyes of law. Notices dated 20.10.2021 and 04.11.2021 in the presence of an earlier assessment order for a tax return timely filed on 30.09.2015 for Tax Year 2015, are patently illegal being without lawful jurisdiction and badly barred by time limitation prescribed under Section 122 of the Income Tax Ordinance, 2001.

Copyright Business Recorder, 2021

Comments

Comments are closed.

IT Ord 2001: LHC stays enhancement of income/ assessment of taxpayer

Dar meets IMF review mission, apprises it of planned power sector reforms

After 29 successive losses, rupee sees some gain, settles at 267.89 against US dollar

Inflationary pressure expected to calm down gradually: Finance Division

KSE-100 jumps 800 points owing to optimism over IMF talks

Pakistan’s performance worsens, rank remains same in corruption perception index

Barrick Gold makes first payment of $3mn to Balochistan govt

India’s Adani says to keep investing in Israel after Haifa port takeover

Indus Motor to shut down plant for two weeks

Shujaat to remain PML-Q president, rules ECP

Atlas Honda increases motorcycle prices in Pakistan by up to Rs30,000