| |
KTBA'S
News &
Views |
Library and News & Views Committee
Mr. Haider Ali Patel (Convenor)
Mr. Iqbal Salman Pasha
Mr. Anwer Kashif Mumtaz
Mr. Ali A. Rahim
Mr. Arshad Siraj Memon
Ms. Yasmeen Ajani
Mr. Asif Ali Khan
Mr. Kazi Anwar Kamal
Mr. Rehan Siddiqui
Mr. Nadeem Iqbal
Syed Hassaan Naeem
|
|
| 86 TAX 240 (Trib) |
WT 14(2), 17(1)(a) |
It is golden principle that no discrimination
can be made under the law because all the assessees are to
be treated equal. This has been provided under Article 4 of
the Constitution of Islamic Republic of Pakistan, 1973 and
has been so implemented by the superior courts as held in
the following cases: - |
| |
|
" 1987 PLD Supreme Court of Pakistan 447
" 1958 PLD Supreme Court of Pakistan 201
" 1999 PTD Karachi High Court 4037
|
| |
|
Provisions of section 14(2) of the Wealth Tax
Act, 1963 are materially different from the provisions of
section 56 of the Income Tax Ordinance, 1979. There is no
concept of having concurrent / simultaneous jurisdiction under
section 14(2) and 17 of the Act. Assessment proceedings cannot
be initiated beyond the assessment year by issuing notice
under section 14(2) of the Wealth Tax Act. |
| |
|
Assuming jurisdiction under other than a legal
provision is not a procedural mistake and being fatal to the
whole proceedings cannot be ignored by the appellate authorities. |
| |
|
When there is no jurisdiction or no valid jurisdiction
with an authority the orders passed in these circumstances
are void and nullity in the eyes of law. Even where both the
sides had agreed to waive a portion of a statutory provision,
cannot confer jurisdiction which according to statue is not
there. |
| |
|
Once an assessee files a return in a Circle,
he cannot challenge that this Circle does not have jurisdiction
over his case. So far as the exercise of legal jurisdiction
for assessment proceedings is concerned, this is the foundation
of the legal orders and therefore, can be challenged at any
stage because it goes to the very root of the assessment order. |
| |
|
A return filed in compliance of notice under
section 14(2) of the Act cannot be treated as return under
section 15 of the Act. |
| |
|
Steps to be taken by DCWT for valuation of building
under Rule 8(3) have been explained. |
| 86 TAX 300 (Trib) |
Clause (8A), Part I, Second Schedule to WT Act,
1963 |
Repayment of loan, used in purchase of shares,
either through encashment of foreign currency cannot be treated
that assets were created as a result of encashment of foreign
currency as envisaged by clause (8A) of Part I of Second Schedule
to the Act for the purpose of allowing exemption. |
FUTURE CPE ACTIVITIES |
CHIEF GUEST/ |
| DATE |
SEMINAR/ WORKSHOP |
SPEAKERS |
VENUE |
| March 31, 2003 |
Powers and Misuse of section 122 of the Income
Tax Ordinance, 2001 |
Mr. Ather Saeed, Advocate |
Conference Hall, Ground Floor,
New Income Tax Building,
Karachi.
|
| April 13, 2003 |
Pre-Budget Seminar |
Mr. Abdul Qadir Memon |
Conference Hall, Ground Floor,
New Income Tax Building,
Karachi.
|
| The Members Assistance Sub-committee claims
no responsibility to the correctness of the contents published.
The information provided is non-exhaustive and readers are
advised to refer to the respective taxation laws, documents/case
laws cited for understanding the issue involved. |
January
- March, 2003
