Law: Income Tax Ordinance, 2001

Section: 111(1)(b),111(2),122(1),122(1)(5),122(4)

ORDER IKRAM ULLAH GHAURI, JUDICIAL MEMBER:- These two cross appeals have been filed by the department as well as taxpayer against the impugned order passed by the Commissioner (Appeals) vide order No.77/2012 dated. 15/10/2012.The grievance of the department is that the CIR(Appeals) was not justified to delete the addition of Rs. 14,821,671/- which was treated by the Assessing Officer as un-explained credit entries appearing in the bank account statement maintained by the taxpayer. The addition of Rs. 14,821,671/- was made under the provisions of sub section (2) of section 111(1)(b) of the Income Tax Ordinance,2001.The taxpayer assailed the impugned order of the CIR (Appeals-III) Islamabad on the grounds that the learned CIR(Appeals-HI) was not justified to confirm the additions made u/s 111(1)(b) ibid on account of un-explained investment made in acquisitions of various property units in the name of taxpayer as well as his spouse and children. 2. Call notice was issued in response to which Mr. Shabir Ahmed Advocate representing the taxpayer attended and argued the case as per grounds of appeal. Mrs. Nazia Zeb, D.R. on behalf of the department attended the proceedings and submitted that learned CIR(Appeals) has rightly confirmed the addition made on account of investment made in property units. She also opposed the relief granted by the learned CIR(Appeals) on account of addition made by the Assessing Officer under the head credit entries in bank account. Both the parties were heard at length and the cross appeals are disposed off in the manner as follows:- 3.…

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