Law: Income Tax Ordinance, 2001

Section: 111(1)(b),114(6),116(3),122,122(1),122(5 )

(a) Income Tax Ordinance (XLIX of 2001)--- ----Ss.116(3), 111(1)(b), 114(6) & 122---Wrong wealth statement---Filing of revised wealth statement---Refusal to accept such statement---First Appellate Authority found that revision of wealth statement could not be accepted merely for the reason that the taxpayer had revised the said statement; that the tax payer had to justify and explain the revision of statement with proper documentary evidence and observed that taxpayer had revised the wealth statement without any proper evidence, just to escape the treatment under S.122(1) read with S.122(5) of the Income Tax Ordinance, 2001---Taxpayer had contended that Assessing Officer had to accept the revised statement as it was provided in S.116(3) of the Income Tax Ordinance, 2001 that any omission or discrepancy could be removed through revision of wealth statement but his contention was rejected and addition was made under S.111(1)(b) of the Income Tax Ordinance, 2001---Department pleaded that taxpayer's version by all means was an afterthought and he had failed to offer any explanation for the amount of addition and scope of revision was very limited; revision could only be made for correction of any omission or error; and it could not be revised after pointation of any discrepancy from the department---Validity---Scope of "omission" or "wrong statement" was very wide and all encompassing---If a taxpayer after filing his return discovers that it was not correct and any part of taxable income had been omitted and not included in taxable income or a "wrong statement" including "wrong statement of accounts" had been filed, he was legally entitled to correct such "omission" or "wrong statement"---Contrary to the provisions of Income Tax Ordinance, 1979 the right of revision of return did not abate (during statutory limitation) even after the completion of deemed assessment or amended assessment---Such right continued to remain legally due, even after pointation of any "omission" or "wrong statement" from the department---Law did not stop any taxpayer from revising his return---No bar could be put on the rights of a taxpayer granted to him by the statute---Power of…

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