Law: Income Tax Ordinance, 1979

Section: 55,66A,59A

(a) Income-tax Ordinance (XXXI of 1979)---S. 55--Unsigned return--Validity--Mere fact that the assessee's return has -not been signed cannot be said to be erroneous in law--Return of income cannot be said to be invalid if both department and assessee admit that the return has been riled--Agreement made by the department as well as by the assessee on the basis of a return which is validly filed cannot be said to be erroneous. 1987 P T D 632 and 1988 P T D (Trib.) 965 ref, (b) Income-tax Ordinance (XXXI of 1979) ---Ss.66-A & 59-A--Agreed assessment--Whether could be said to be erroneous and prejudicial and liable to be reopened--Agreed assessment binds both the parties, the assessee as well as the Department--When the assessee is debarred from filing an appeal' against the agreed assessment, the department should also consider itself bound by the agreement--Department, thus cannot be allowed o reopen an agreed assessment. (c) Income-tax-- ---Agreed assessment--Object, features and incidents of agreed assessment discussed. ORDER This is an, appeal filed by an individual deriving income as a construction contractor and relates to the assessment year 1983-84. 2. Brief facts of the case under which this appeal has arisen are that an agreed assessment was made at an income of Rs.75,000 against the declared income of Rs.24,956. The assessee's case was reopened by the learned IA-C under section 66A of the I.T. Ordinance as he found the assessment as erroneous and prejudicial to the; interest of revenue and cancelled the assessment and directed the I T O to re-frame the assessment. The reasons for holding the assessment order as erroneous by the I A C were twofold. Firstly, that originally, the assessee had filed return at an income of Rs.1,50,000 and gross receipts including taxes deducted at source were declared by the assessee at Rs.48,31,614. The second reason was that the revised return filed by the assessee declaring an income of Rs.24,956 and gross receipts at Rs.14,85,863 had to be ignored because it was unsigned. 3. The learned counsel for the assessee raised a number of pleas, both legal as well as factual. He contended that the order was neither erroneous…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492