Law: Income Tax Ordinance, 2001

Section: 114,116,111,122C,111(l)(b),120

Income Tax Ordinance (XLIX of 2001)----Ss. 111(1)(b), 114, 116, 120, 122-C & 131--Ex parte provisional assessment--Unexplained income--Assessing Officer proceeded ex parte against the taxpayer and passed provisional assessment, whereby addition amounting to Rs.32,75,000 was made on account of investment made by the taxpayer on purchase of three motor vehicles from alleged unexplained income--Contention of taxpayer was that. taxpayer was an existing assessee and filed his return of income for relevant year, which was deemed to be treated as assessment in terms of S.120 of Income Tax Ordinance, 2001 and that subsequent provisional assessment, was not maintainable in the eye of law--Appellate Authority being convinced with the submissions made by the taxpayer, annulled provisional assessment---Validity--Taxpayer had obtained NTN Certificate and filed the return of income for relevant period, which was deemed to be treated as assessment in terms of S.120 of Income Tax Ordinance, 2001--In presence of deemed assessment, provisional assessment framed for the same year, would tantamount to a "double assessment", which was not permissible under the law--Only recourse available to the Assessing Officer, under such circumstances was to resort to the provisions of S.122 of Income Tax Ordinance, 2001--Appellate Tribunal declined to disturb the order of Appellate Authority, which was maintained. ORDER CH. ANWAAR UL HAQ (JUDICIAL MEMBER).--The titled appeal pertaining to tax year 20UL has been preferred at the instance of Revenue, calling in question the impugned order dated 22-6-2012, passed by the learned CIR (Appeals-IV). Lahore. 2. Briefly stated, the relevant facts in the case are that the department received information that the taxpayer had purchased three motor-vehicles for a total consideration of Rs.3,275,000. Since, the taxpayer has not furnished return of income for tax year 2010, the assessing officer issued statutory notices under sections 114 and 116 of the Income Tax Ordinance, 2001. Allegedly, no response was made by the taxpayer to these notices. The assessing officer, allegedly, issued show cause notice under section 122C read with section 111 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