Law:

Section:

ORDER Raana Ahmed (Accountant Member) 1. Facts of the case are that the taxpayer allegedly filed Return of Income, for tax year 2011, declaring Nil income which was deemed to be assessment order under section 120 of the Income Tax Ordinance, 2001. Subsequently, the department received definite information that the taxpayer had been maintaining joint account No. 42560444530100 with Atlas Bank Ltd., Azam Cloth Market, Lahore and joint account No. 1-3-7-200620-714-106430 with Summit Bank Ltd., Azam Cloth Market, Lahore, wherein total credits amounted to PKR 32,794,439, which were far in excess of the declared income. He, therefore, issued show cause notice under section 122(9) read with section 122(5). The taxpayer filed its reply agitating the contents of the notice on legal as well as on factual grounds which the OIR considered but rejected being devoid of merit and passed amended assessment order under section 122(1) dated 21.04.2014 at income of PKR 9,156,925. The taxpayer filed appeal, against the said order of the OIR, before the CIR (A) vide No.4571 dated 22.05.2014, who vide order under section 129 dated 30.10.2014 allowed partial relief. The taxpayer filed instant appeal, against the said order of the CIR (A), before the ATIR vide ITA No. 155/LB/2015, on the following grounds: 1) That the orders passed by both the authorities below are bad in law and against the facts of the case. 2) That the assessment order passed by the learned DCIR and impugned order passed by the worthy CIR(A) are ab initio void, illegal, perverse, arbitrary, capricious, inoperative, incompetent, malafide and without jurisdiction and in excess of jurisdiction. 3) That the impugned order passed by the worthy CIR (A) is beyond the limitation provided under section 129 of the Income Tax Ordinance, 2001, therefore, barred by time and not maintainable in the eye of law. 4) That there was no order available before the learned DCIR for amendment as the appellant has not filed any return of income which could be deemed to be an order under section 120 of Income Tax Ordinance, 2001, therefore, alleged amendment of order under section 122(1) of the Income Tax Ordinance, 2001 as confirmed by…

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