Law: Income Tax Ordinance, 2001

Section: 114,114(6),120,122,122(3),122(5A),122(9) ,133,177

Income Tax Ordinance (XLIX of 2001)--Ss.114, 120, 122 133-Amendment of assessment-Filing of revised return by taxpayer during assessment proceedings-Scope- Question before High Court was “whether during assessment proceedings, when taxpayer filed a revised return under S. 114(6) of Income Tax Ordinance, 2001; could the Department and Appellate Tribunal treat such revised return as invalid when the same was to be deemed to be an assessment order under S. 122(3) of said Ordinance”- Held, that for amendment of assessment in terms of Ss. 120 122(3) of Income Tax Ordinance, 2001, Commissioner had to proceed on basis of said assessment and revised return, if competently filed, would have to be accepted and amended assessment would be passed under S.122 of the Ordinance, while return previously filed lost its efficacy and became irrelevant to extent of any omission or wrong statement-At relevant time, no legal bar existed on taxpayer for filing revised return before completion of assessment proceedings and taxpayer had prerogative to revise return of income before finalization of assessment if taxpayer discovered any omission or wrong statement in previous return-Action of Department and Tribunal in treating such revised return as invalid was beyond their jurisdiction as no provision in Income Tax Ordinance, 2001 existed whereby Department could declare such revised return as invalid-Revised return of income, if filed in accordance with requirements of S. 114(6) of Income Tax Ordinance, 2001, then no adjudicating authority had power to declare same as invalid-Reference was answered, accordingly. Zaman Paper and Board Mills v. Taxation Officer, Circle-12, Company Zone, Lahore 2005 PTD 2577; Commissioner of Inland Revenue Zone-II Regional Tax Office, Peshawar v. Messrs Saydon Pharmaceutical Industries (Pvt.) Ltd., Industrial Estate, Jamrud Road, Peshawar 2015 PTD 374 and Commissioner of Income Tax/Wealth Tax, IBD v. Messrs HI-TECH Plastic (Pvt.) Ltd. 2019 PTD 878 rel. JUDGMENT MUHAMMAD SAJID MEHMOOD SETHI, JUSTICE:---.--- Through instant Reference Application under Section 133 of the Income Tax Ordinance, 2001 (“the Ordinance of 2001”), following question of law, urged…

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