Law: Income Tax Ordinance, 1979

Section: 5(1),13(2),66A,5(a)(c)(cc),13

Revisional jurisdiction of I.A.C. -- Application of -- Question of law -- Unexplained investment -- Newly acquired assets by assessee -- Objections not filed when required by Assessing Officer -- Finalization of assessment -- Cancellation by I.A.C. -- Validity -- Exhancement of income of assessee -- Challenge to -- Whether special provisions contained in clauses (c) and (cc) of sub-section (1) of section 5 of Ordinance were applicable so long there was deviation from the normal and general provisions of law contained in the Ordinance -- Held yes -- Whether normal powers and jurisdiction conferred under the law on DCIT and IAC or Commissioner became inoperative when there was deviation from general law and recourse was made to special law but as soon as deviation from general law ended provision contained in general law became opeative with the result that original powers conferred on Income Tax Authorities under Income Tax Ordinance were revised automatically -- Held yes -- Whether in definition of Deputy Commissioner, under clause (17)(a) of section 2 of Ordinance special officer was also included and if I.A.C. was appointed as special officer to act as Deputy Commissioner, he shall obtain statutory approval from I.A.C. and not from Commissioner -- Held yes -- Whether income of assessee could be enhanced in view of addition in trading account -- Held no -- Whether order or revising authority was maintainable under the law -- Held no -- Unexplained investment -- Newly-acquired assets by assessee -- Failure of assessee to file objection when required by the Assessing Officer -- Effect -- Enhancement of income of assessee by Assessing Officer -- Addition -- Validity -- Income of assessee could not be enhanced in view of addition in trading account -- Provisions contained in Section 5(1)(c)(cc) of the Income Tax Ordinance, 1979 were applicable only in case of deviation from the normal and general provisions of the Income Tax Ordinance, 1979 -- Powers of D.C.I.T. and I.A.C. -- Scope -- ORDER The Order was passed by Khawaja Farooq Saeed, Judicial Member.- This appeal has been filed by the assessee against order u/s 66-A dated 12-07-1999. The objections of the…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492