Law: Income Tax Ordinance, 2001

Section: 62,122(1),122(8)

Income Tax Ordinance (XLIX of 2001)--- ----Ss. 122(8) & 122(1)--- Amended assessment--- 'Definite information'---Scope---Definite information did not mean a re-analysis of existing information or an analysis of further information that was previously accessible but had not been taken into account (by the tax authorities). Central Insurance Co. v. Central Board of Revenue 1993 SCMR 1232; Inspecting Assistant Commissioner v. Pakistan Herald Ltd. 1997 SCMR 1256 and Income Tax Officer v. Chappal Builders 1993 PTD 1108 ref. THIS ORDER PASSED BY: UMAR ATA BANDIAL, J.--- The short question arising for determination in these appeals is whether the appellant had 'definite information' within the meaning of section 122(8) of the Income Tax Ordinance, 2001 ("Ordinance") in order to pass an amended assessment order whereby the information gleaned from the bank account statement of the respondent was made the basis of additional liability to tax for the assessment year 2002-2003, tax year 2003 and tax year 2004. 2. There are two bank accounts which the appellant alleges that the respondent had not disclosed either in full or at all. These accounts were maintained by the respondent at the Bank of Khyber and the Standard Chartered Bank. The respondent does not deny that it failed to provide the particulars of the account in the Standard Chartered Bank and therefore, the amended assessment made in respect of the information collected from the account statement of that Bank has not been disputed by the respondent, who has paid the additional tax assessed. 3. With respect to the respondent's bank account in the Bank of Khyber, it is admitted on record that a partial bank statement of the said account pertaining to the period 26.04.2003 until 30.06.2003 was filed by the respondent, inter alia, on the basis of which assessment under section 62 of the Income Tax Ordinance, 1979 was completed for the assessment year 2002 -2003 as well as subsequently for the tax year 2003 under the Ordinance. In respect of these two assessments, the appellant framed an amended assessment under section 122(1) of the Ordinance on 13.08.2006 claiming that the respondent had failed to provide the…

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