1. Advance Professional Development Program 2016/17 Case Study
Karachi Tax Bar Association
February 23, 2017
Contact Address:
Presented by:
Mohammad Rehan Siddiqui
Partner
FCA, ACMA, LLB
4th Floor, Central Hotel Building
Civil Lines, Mereweather Road
Karachi - Pakistan
Phone: 021 –
Fax: –

2. Brief of the Company
The ABC company is a medium sized private limited company incorporated in Pakistan under Companies Ordinance, The company is involved in marketing consultancy business. Other companies appoint the company as its marketing consultant.
Selection of case under section 176 of the income tax ordinance, 2001
The ABC company was selected in audit under section 176(1) by the deputy Commissioner Inland Revenue. He called upon the records regarding various expenses and income which he deemed suitable for audit.

3. Audit Proceedings Conducted by Deputy Commissioner Inland Revenue (DCIR)
DCIR initiated the proceedings by calling records and finalized its order thereafter. The Company appropriately furnished sufficient documentary evidence before DCIR and went to the Commissioner Inland Revenue, Appeals, Karachi [CIR(A)] against the order finalized by the DCIR. On certain issues which the company consider arbitrary and unjustified.
Tax Declared
Tax paid and claimed by the company in return was Rs. 495,000/- and allowed by the DCIR in order was Rs. 395,000/-

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