Law: Income Tax Ordinance, 2001

Section: 128(5),214C

THIS ORDER PASSED BY: FAHEEMUL HAQ KHAN, ACCOUNTANT MEMBER:---.--- The captioned Income Tax Appeal has been filed by the appellant/Department against the order No. 873/2014, dated 15.10.2014 passed by the Commissioner Inland Revenue (Appeals-II), Islamabad as per following grounds; ".. 1. That the learned Commissioner Inland Revenue (A) erred in understanding the real issue of on-reconciliation of wealth. He misconceived the unexplained wealth amounting to Rs. 818,663/- as a miscalculation of wealth by the Assessing Officer. 2. That the order of the Commissioner Inland Revenue (Appeals-II) is arbitrary as it over simplifies the issue of reconciliation whereas the learned OIR had repeatedly requested to the taxpayer to provide the evidence of declared assets in wealth statement which he could not produced. Hence the question of reconciliation remains unresolved. 3. The Commissioner Inland Revenue Appeal's order is bad in the eyes of law to entertain certain documents under section 128(5) of the Income Tax Ordinance, 2001 which were not produced before the assessing officer despite several requests made to the taxpayer, as held by the learned ATIR in the case of Khursheed Printers. 2. Brief facts of the case, as transpired from the impugned order are that return for the year under consideration was filed declaring income at Rs. 177,500/- as share from AOP. The case was selected for audit u/s 214C regarding which the taxpayer was duly intimated. The taxpayer was confronted with related issue through notices, asking for various details/documents and after considering reply order was passed which is the subject matter of present appeal. 3. Being aggrieved with the order of the ACIR, the Appellant/taxpayer filed appeal before the Commissioner (Appeals), Islamabad who vide his order dated 15.10.2014 decided the appeal in the following words; "Perusal of the order revealed that the assessing officer observed that there is difference in the wealth reconciliation statement amounting to Rs. 8,18,663/- regarding which the taxpayer was confronted through notice dated 31-12-2013 and thereafter the taxpayer revised its wealth statement on 15.01.2014. The officer however was…

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