FAZAL DIN & SONS (PVT.) LTD. versus FEDERAL BOARD OF REVENUE, ISLAMABAD
Sections 122 (1) (5) and 120A (i) Investment Tax Scheme, 2008 [Circular No. 3 of CBR 1 7 2008] CBR Circular No. 7, 19 of 2008 2008 CBR Circular No. 8, Date 59, 2008 Investment Tax Scheme, 2008 Scope Assessee submitted its Income Tax Statement, which, upon completion, in exercise of the powers under Section 122 (1), the Department taxable income for the relevant tax years. He was treated to determine. ) Read with section 122 (5) of the Income Tax Ordinance 2001, proceedings for amendment of assessments were initiated for one year in an assessment which was challenged before the Commissioner Income Tax (appeal). While amendments for the rest of the year were incorporated in the Income Tax Ordinance in the Income Tax Ordinance 2001, under which the Federal Board of Revenue was given powers to enter the Income Tax Ordinance 2001 under the Income Tax Ordinance. was done. Representing any amount or investment made in real estate, subsequently operating or immovable assets, as a result of the Federal Board of Revenue, pursuant to Circular No. 3, issued by the Investment Tax Scheme, 2008, Date 1 7 2008, as a result of which the Assisi filed a declaration earlier this year. In accordance with the terms and conditions of the scheme, the Federal Board of Revenue, after making a declaration through the assessee, on 15 October 2008, disclosing unknown, immovable and unclear income and paying all taxes thereon. Issued a descriptive circular number 7 for 19 of 2008. 2008 2008 2008 explaining that the application of this scheme will include all the immovable assets / assets
