Law: Income Tax Ordinance, 1979

Section: 13(1)(a),63,65

Income Tax Ordinance (XXXI of 1979)---Ss. 13(1)(a), 63 & 65---Unexplained investment---Addition---Absence of new material before Assessing Officer---Re-opening of assessment-- Validity--Assessee was assessed under Self-Assessment Scheme, later on case was re-opened on the ground that at the time of issuance of refund, it was noted that assessee made heavy imports which were impossible in view of available funds---Assessment was accordingly completed and additions were made---First Appellate Authority found that treatment was arbitrary and illegal and based on suspicion---Tribunal in second appeal held that content of import was available on record at the time of assessment, no material showing escapement was brought on record, therefore, orders under S. 63/65 being illegal and void were annulled and original order of assessment was restored. ORDER MUHAMMAD TAUQIR AFZAL MALIK (JUDICIAL MEMBER). ---These are two appeals by the appellant first is that the CIT(A) is not justified in confirming the re-opening of assessment which 'was made by the I.T.O. in contravention of provisions of subsection (2) of section 65 of the Income Tax Ordinance, 1979. The learned Commissioner has ignored the fact that order under section 63/65 was merely a change of opinion. 2. That the re-opening of assessment and additions under section 13(1)(a) are also unjustified. 3. That the application of G. P. Rate and other additions under section 13(1)(a) were also without jurisdiction. 4. Arguments heard record perused. 5. The appellant is an individual derives income from import and sale of auto parts. Original assessment in this case was finalised under Self Assessment Scheme at total income of Rs.98,000 and Rs.99,000 respectively. The assessments were re-opened on the ground that at the time of issuance of refund, it was…

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