Law: Income Tax Ordinance, 2001

Section: 111,111(1),111(1)(b),122(1),122(9),177(1 0),214-C

Notes Taxpayer was aggrieved of selection of his case for audit as his declared income was not accepted by authorities Deposits in question were explained but on the other hand were not subtracted from the total amount confronted and added under S.111 of Income Tax Ordinance, 2001 Authorities admitted inflow of amount in question but the amount was added without any rhyme or reason unlawfully and illegally When inflow was explained, admitted and notice on that point was withdrawn by the authorities then neither gross inflow or accretion in asset could be added as unexplained as the same was outcome of the inflow which had been accepted by authorities Nature and source of all credit entries were explained by taxpayer and no addition was warranted under S.111 of Income Tax Ordinance, 2001 Authorities proceeded unlawfully and made all addition illegally under S.111 of Income Tax Ordinance, 2001, even when nature and source of deposits was explained---Appellate Tribunal Inland Revenue directed the authorities to accept the declared version of taxpayer and had set aside the orders passed by two forums below- JUDGMENT SHAHID MASOOD MANZAR, CHAIRMAN:---.--- Brief facts of the case as per impugned orders, are that the taxpayer is an individual deriving income from Property as well as business. Taxpayer filed the return of total income for the tax year 2015 declaring gross property income amounting to Rs.1,848,000. The case was selected for audit by the Federal Board of Revenue under section 214C of the Income Tax Ordinance, 2001. The learned CIR intimated the taxpayer regarding the selection of the case for audit and, thereafter, the DCIR issued IDR and two notices for provision of certain documents. In response thereto, the taxpayer submitted the requisite documents, which were examined by the DCIR and on scrutiny some discrepancies were found which the taxpayer was communicated through show-cause notice under section 122(9) read with section 177(10) of the Income Tax Ordinance, 2001 dated 11.05.2017 for compliance on 26.05.2017. Taxpayer complied with notice and submitted the documents. After examination of the documents, the taxpayer was issued notice under section…

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