Law: Income Tax Ordinance, 1979

Section: 65,62,50(4),80C&8pD

(a) Income Tax Ordinance (XXXI of 1979)----Ss.65, 62, 50(4), 80C & 8pD---CRR. Circular No.12 of 1991, dated 30-6-1991---C.B.R. Circular No.7 of 1992, dated 18-3-1992---Assessment Year 1991-92---Assessment which was completed under normal law was reopened by Assessing Officer on perusal of wealth tax assessment on the ground that receipts were suppressed as the receipts declared in wealth tax record were different from the receipts declared for purpose of income-tax--¬Assessee was further confronted with the fact that receipts on which tax was deducted under S.50(4), Income Tax Ordinance, 1979 fell under S.80C, Income Tax Ordinance, 1979---However, it was found that information on the basis whereof assessment was reopened ways not correct and was the result of confusion on account of incorrect method adopted by Wealth Tax Officer-- -Assessment was revised on the point of income covered under S.80C. Income Tax Ordinance, 1979---Validity---Material available on record could not be used for reopening of assessment as same would amount to change of opinion, which was, not permitted---If there was any mistake Assessing Officer could resort to "rectification of mistake under S.156, Income Tax Ordinance, 1979, or if order was erroneous and prejudicial to interest of revenue, Assessing Officer could pass the information to Inspecting Assistant Commissioner who could revise assessment under S.66-A, Income Tax Ordinance, 1979---In the garb of reopening of assessment the jurisdiction to revise assessment vested in Inspecting Assessment Commissioner under S.66-A of the Ordinance could not be conceded to Assessing Officer---Assessing Officer after conceding to the fact that the reopening, assessment was not justified due to non-availability of definite information could not proceed with the reassessment proceedings--¬Once assessment was completed and attained finality, Assessing Officer could not exercise jurisdiction to revise assessment in the garb of reopening of assessment under .S. 65, Income Tax Ordinance, 1979. Central Insurance Company v. C.B.R. 1993 PTD 766 = 1993 SCMR 1232 rel,, ORDER MUHAMMAD MUJIBULLAH SIDDIQUI (CHAIRMAN). ---The above appeal is directed…

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