Law: Income Tax Ordinance, 1979

Section: 62,65,13(1)(aa),(d),(2)

(a) Income-tax Ordinance (XXXI of 1979)---Ss. 62, 65 & 13(1)(aa) & (d) and (2)--Purchase of property by assessee--Disclosed price, held, could not be questioned by the Income-tax Officer unless dente proof/evidence was put on record to make a deviation from it. I. T. A No.185/IB/1985-86 and ITA No.110/IB/1985-86 ref. (b) Income-tax Ordinance (XXXI of 1979)-- Ss. 13(1)(aa), 65 & 62 -Addition--Assessment was reopened on the sole ground that assessee declared the price of Hose he purchased as Rs.60,000 whereas its value for the purpose of Capital Gains Tax was assessed at Rs.2,60,000 by the Excise anal Taxation Department--¬Held, based on such information, inquiry of I.T.O. should have confined to seeking explanation in regard to the difference between the disclosed price and that assessed by the Excise Department--Income-tax Officer was not justified to propose a separate addition under S.13(1)(aa) and also without obtaining double approval from the I. A. C. and since no evidence Has put on record to dispute purchase price, I.T.O. fell into an error in accepting assessed price of the property by the Excise and Taxation Department in circumstances. I. T. A. No. 185./113/1985-86 and I. T. A. No.110/IB/1985-86 ref. ORDER This appeal on behalf of the assessee is directed against the impugned order of learned A.A.C. in consequence of which he confirmed assessment relating to the charge year, 1984-85. 2. Brief facts giving rise to this appeal are that in this case assessment was originally made on net income of Rs.24,200 under section 59(1) of the Income-tax Ordinance, 1979 (hereinafter called the Ordinance), by virtue of the Income-tax Officer, Circle-24, Rawalpindis order dated 20--12-1984. Subsequently, however the said assessment was re-opened on the basis of information received from the Income-tax Officer, Survey and Collation-III, Rawalpindi, intimating the Income-tax Officer, Circle-24, Rawalpindi, that the assessee had purchased property worth Rs.60,000 on 13-.11-1985, necessitating investigation by the latter. In consequence thereof, assessment was re-opened with the prior approval of IAC, Rawalpindi Range, Rawalpindi, conveyed to the Income-tax…

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