1987 PLP 656 (PTD)
COMMISSIONER OF INCOME-TAX CENTRAL 'A', KARACHI Versus Messrs AMSONS DAIRIES AND FOOD LTD.
| Citation | 1987 PLP 656 (PTD) |
| Forum / Court | Karachi High Court |
| Bench Members | Muhammad Zahoorul Haq and Abdul Raazak A. Thahim, JJ |
| Parties | COMMISSIONER OF INCOME-TAX CENTRAL 'A', KARACHI Versus Messrs AMSONS DAIRIES AND FOOD LTD. |
| Primary Law | Income-tax Act (XI of 1922) |
Q1: What are the key laws and sections cited in 1987 PLP 656 (PTD)?
This judgment primarily cites: Income-tax Act (XI of 1922) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1987 PLP 656 (PTD)?
The case was heard and decided by the Karachi High Court bench comprising: Muhammad Zahoorul Haq and Abdul Raazak A. Thahim, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1987 PLP 656 (PTD) (COMMISSIONER OF INCOME-TAX CENTRAL 'A', KARACHI Versus Messrs AMSONS DAIRIES AND FOOD LTD.). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Nasrullah Awan for Appellant.
- Iqbal Naeem Pasha for Respondent
- Date of hearing: 8th March, 1987.
- In view of above, this petition fails and the question is answered in the affirmative. The learned counsel for the Department. Mr. Nasrullah Awan has not been able to point out any other judgment of any other High -Court to the contrary.
Headnotes / Summary
S. 66--Reference--Determination of market value of assets--Question of fact- -Income-tax Appellate Tribunal is competent to take a view different from the one which had been taken by the Income-tax Officer--High Court declined to interfere, there being no question of law involved. (1979) 39 Tax 58 ref.
Judgment & Decree
Nasrullah Awan for Appellant. Iqbal Naeem Pasha for Respondent Date of hearing: 8th March, 1987. MUHAMMAD ZAHOORUL, HAQ, J.--The applicant Commissioner of Income-tax, Central Zone "A" Karachi has referred the following question to us:- "Whether on the facts and in the circumstances of the case there was 'any material- before the Tribunal to justify the reduction of market value adopted by the Income-tax Officer from Rs.31,67,007 to Rs.25,00,000.". The Income-tax Officer has assessed the market' value of the Dairy Farm of the respondent at Rs.31,67,007 but the respondent had contended that he had actually sold the same for Rs.11,80,
000. The matter was taken in appeal to the Appellate Tribunal and the Accountant Member after giving due consideration to the facts and circumstances of the case, reduced the value of the factory from Rs.32,67,007 to Rs.25,00,
000. It was a question of fact as to what was the market value of the factory and the Appellate Tribunal was quite competent to take a view different from the one, which had been taken by the Income-tax Officer. There is no point of law involved in that decision. We .are supported in this view by a decision of the Lahore High Court reported in (1979) 39 Tax 58 (H.C. Lah.) where a Division Bench of the said High Court has taken the following view: "The fixation of the market value by the Tribunal is a pure question of fact .and our answer to the question raised has to be in the affirmative. An objection was also raise by learned counsel for the respondent that the petition is barred by six days. Irrespective of this objection even on merits the petitioner has no case." In view of above, this petition fails and the question is answered in the affirmative. The learned counsel for the Department. Mr. Nasrullah Awan has not been able to point out any other judgment of any other High -Court to the contrary. M.B.A./C-21/K Question answered in the affirmative.