Law: Income Tax Ordinance, 2001

Section: 122,122(9),111(1)(b),122(5)

[Income Tax Ordinance (XLIX of 2001)],,. Sections 122(9) read with 111(1)(b), 122(5),, Return,.. Audit,,. Discrepancies,,. Show-cause Notice,, Assessment,, Amendment,,.. Addition,,. Appeal,, Deletion, hence the instant appeal,,.. The learned Tribunal realized that while disposing of the appeal learned CIR(A) observed that the evidence provided by the AR which was also referred to by the Assessing Officer at the time of amendment of assessment showed that the tax-payer had assets worth Rs. 21,281,341/- as on 30/06/2008 which rose to Rs. 30,231,103/- on 30/06/2009, the contention of the AR remained that the Taxation Officer made additions without appreciating the above facts leading to increase in the wealth and considering the whole case in its entirely, learned CIR(A) also observed that the accretion of Rs. 8,949,762/- in assets was fully justifiable from the wealth statement/reconciliation of wealth, flow/movement of assets since 2000-2001 and other related documentary evidence relating to sale and purchase of assets, further the Assessing Officer had made additions under Section 122(5) which was not the relevant provision of law for making additions or amending the assessment,,. Tribunal confirmed the orders of CIR(A) and rejected the departmental appeal,,. JUDGMENT The instant appeal filed by department is directed against an order dated 02.02.2012 passed by learned CIR (Appeals-III) Islamabad relating to tax year, 2009. 2. Brief facts are that return for the tax year 2009 was filed declaring net income at Rs. 375,000/-. The taxpayer subsequently revised the return declaring agricultural income at Rs.375,000/-. However during audit certain discrepancies as to accretion of wealth/reconciliation were observed whereon the taxpayer was issued a notice dated 05.09.2011 to explain his position. In reply the taxpayer filed wealth statement as well as reconciliation statement for the said tax year. However, the explanation of the taxpayer as well as wealth statement/reconciliation were found not satisfactory and the taxpayer was issued another notice u/s 122(9) read with 111(1)(b) for amendment of assessment. Again reply of the taxpayer was…

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