Law: Income Tax Ordinance, 1979

Section: 62(1),proviso

Law: Constitution of Pakistan, 1973

Section: 185(3)

Income Tax Ordinance (XXXI of 1979)--- ----S. 62(1), proviso---Constitution of Pakistan, Art. 185(3)---Statutory notice, non-issuance of---Defect in books of accounts---Proof---Authorities were aggrieved of order passed by High Court, whereby trading accounts of assessee were accepted---Validity---No notice as specified under proviso to S.62(1) of Income Tax Ordinance, 1979, was issued and assessing officer without pointing out any defects in books of accounts rejected the same---No discussion had been made by assessing officer on alleged qualification of auditor's report and on the basis of such disqualifications no addition was made and question which was raised before High Court was not properly framed---Judgment passed by High Court was well written and was unexceptionable and no interference was called from Supreme Court---Petition was dismissed. JUDGMENT MUHAMMAD ATHER SAEED, J.---These Civil Petitions for Leave to Appeal have been filed against the common judgment of the learned Lahore High Court, Lahore dated 9-12-2011 in I.T.As. Nos.45 to 49 of 1998 whereby the petitioner had preferred following question of law for the opinion of the learned High Court:-- "Whether under the facts and circumstances of the case, learned ITAT was justified to direct acceptance of accounts despite a qualified certificate by the Chartered Accountants which stated that they had neither carried out valuation of stock and stores nor verification of markup payable, nor examined the bills payable for verification as stated in note 10(2) of the balance sheet?" This question was answered by the learned Lahore High Court in affirmative in favour of the respondent and against the petitioner. 2. Brief facts of the case are that the respondent is a limited company engaged in the manufacture of woolen fabrics, acrylic and woolen yarn. Its assessments for the assessment years 1988-1989 to 1992-1993 were completed under section 62 of the Income Tax Ordinance, 1979 but the assessing officer had rejected the trading accounts and computed the total income by estimating sales and gross profit and making certain additions in the profit and loss accounts. Being aggrieved by the assessment…

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