Law: Income Tax Ordinance, 1979

Section: 62,65,13(1)(a)

(a) Income-tax Ordinance (.XXXI of 1979)--Ss. 62 & 65--Assessee's books of account were properly examined and documents pertaining to purchases sales were duly perused at the time of original assessment-Income-tax Officer went a step further and sought assessee's explanation on certain queries through notice under S.62--Assessee's reply to said notice was found to be satisfactory and thereafter assessee's trading results were accepted--Income-tax Officer, on 'receipt .of complaint failed to procure any material to establish under-assessment or concealment of income in the relevant year Income-tax Officer, in the re assessment order, just proceeded in the manner as if original assessment was being made--Held, this was nothing short of change of opinion of the I.T.O. over that of the other--First Income-tax Officer, while making assessment under S.62 having duly examined the assessee's purchases, sales etc and made queries as well, reassessment made by the subsequent I.T.O. was just a change of .opinion--Assessee's. plea of closure of business activity for certain period, in. the year was also accepted by tile first I.T.O.; while passing order under S.62/65, the subsequent I.T.O. having failed to lay hands on any fresh material for attributing under-assessment or concealment, Commissioner was fully justified in annulling the assessment. Arafat Woollen Mills Ltd. v: C.I:T. 1986 P T D 316 ref. (b) Income-tax Ordinance (XXXI of 1979)-- ---S. 65--Income-tax Officer at the time of issuing notice under S. 65 was opt in possession of any definite information regarding concealment-Only, material was regarding unverifiability of purchases, ales ant creditors--Complaint received by I.T,O. levelled general allegations--Income-tax officer while seeking permission for I.A.C. erroneously stated in his 1etter that complainant had provided certain documents whereas only general allegations were levelled oil the issue involved--Income-tax Officer, at the time of reassessment, could not lay hands on any solid material--Finding arrived at in the reassessment order was without any basis--Tribunal, while maintaining the issuance of notice under S.65, remitted issue of addition to…

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