Law: Income Tax Ordinance, 2001

Section: 111(1)(b),120,122(1),122(2),122(5),122(9 )

ORDER This order shall dispose of the appeal filed by the taxpayer against the order dated 14.10.2015 passed by the learned Commissioner Inland Revenue (Appeals-lll), Lahore for the tax year 2009 on the grounds as set forth in the memo of appeal. 2. Brief facts leading to the appeal are that the taxpayer an individual, filed income tax return declaring agricultural income of Rs.200,000/- which was taken to be deemed assessment in terms of section 120 of the Income Tax Ordinance, 2001 Later on receipt of an information by the department that the taxpayer had made investment in purchase of a residential plot for a consideration of Rs. 100,000,000/- during the period relevant to tax year 2009, show cause notice under section 122(9) read with section 122(1)/(5) read with section 111(1)(b) was issued asking him to explain the source of investment but no compliance was made. Hence, the assessing officer amended the assessment. 3. Being aggrieved with the treatment meted out by the ACIR, the taxpayer preferred appeal before the first appellate authority who confirmed the treatment accorded by Assistant Commissioner Inland Revenue. Being dissatisfied with the treatment meted out by the first appellate authority, the taxpayer preferred appeal before this forum. 3. The taxpayer has contended that orders passed by both the authorities below are bad in law and against the facts of the case. The taxpayer reiterated that learned CIR(A) was unjustified to maintain the order passed by the OIR which is beyond the period of limitation, as already expired, prescribed in section 122(2) of the Ordinance. On the other hand, learned DR appearing on behalf of the department has supported the orders of both the authorities below for the reasons recorded therein. 4. We have gone through facts of the case and carefully considered the contentions of parties at bar. The main issue involved in this case is determination of limitation period as provided u/s. 122(2) of the Income Tax Ordinance, 2001. The taxpayer states that the tax return for the tax year 2009 was filed on 15.10.2009 and statutory periods of five years for amendment expired on 14.10.2014 but the amendment order…

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