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COMMISSIONER OF INCOME TAX, COMPANIES ZONE-I, LAHORE versus MESSRS GRAYS LEASING COMPANY LIMITED

Sections 22, 30, 31 (1) (b), 34, 66A and 136 refer to the High Court Assessing Officer against interest income, taking the interest income of the Assisi under section 22 of the Income Tax Ordinance 1979 and its Initial costs against allowed. The additional commissioner inspecting the interest income, however, deemed it erroneous and fraudulent of the Assessing Officer for the interest of the Revenue under section 66A of the Income Tax Ordinance 1979 and interest income under section 31 (1) (b). Denied the costs against. Income Tax Ordinance, 1979 Income Tax Appellate Tribunal, accepting an appeal against the order of the Inspection Additional Commissioner, had fixed the provisions of section 66A of the Income Tax Ordinance 1979, when the Assessing Officer decided the income tax benefit. Was biased towards. Section 34 of the Income Tax Ordinance, 1979, clearly showed that the loss to the Issuisi in one year over the next year could be claimed if there was a loss and he could prove it. Given that it has suffered losses, but the revenue cannot be calculated. Interest in revenue this year is biased, but it will be against next year and those losses. The Appellate Tribunal of the tax appellant was requested for the provisions of Section 66A of the 1979 Income Tax Ordinance, in which the interest of the Income Tax Commissioner is subject to prejudice. The questions raised by the Income Tax Appellate Tribunal were answered in a negative and accepted appeal, the order passed by the appellate tribunal was set aside and the order of inspection of the Additional Commissioner was upheld. \ n \ r \ n ask a advocate free from Tarbela lawyer