Law: Income Tax Rules, 1982

Section: 207A

Law: Income Tax Ordinance, 1979

Section: 13(1)(d),59(1),62,65

THIS ORDER PASSED BY: EHSAN-UR-REHMAN, JUDICIAL MEMBER:----------- Through the titled application it has been prayed that the following questions of law which have statedly arisen out of the order, dated 30-6-2003 passed by this Tribunal in I.T.A. No. 3260/LB/2000 (Assessment year, 1995-96) may be referred to the Honourable Lahore High Court Lahore for an authoritative opinion: (I) "Whether on the facts and in the circumstances of the case when there is ample evidence of under statement for registered value of sale-deed, the learned Income Tax Appellate Tribunal was right in accepting the declared version of the assessee? (II) Whether on the facts and in the circumstances of the case when under valuation of registered sale-deed is customary the learned Income Tax Appellite Tribunal was right in directing for acceptance of declared version-of the assessee? (III) Whether on the facts and in the circumstances of the case the learned Income Tax Appellate Tribunal is justified to apply Rule 207A of the Income Tax Rules, 1982 with retrospective effect directing to accept the declared vale of investment made in the purchase of property in the assessment year, 1995-96 whereas said rule was introduced through Finance Act, 1997? (IV) "Whether the learned ITAT Lahore was justified in holding that the service of notice under section 65 was improper in the presence of acknowledgement of notice under section 65 vide letter, dated 8-6-1999 filed by the assessee." Facts in brief of the case are that the re-assessment under sections 62/65 was annulled by the learned First Appellate Authority with the findings that the notice under section 65 of the repealed-Ordinance, 1979 has not been served on the respondent/assessee prior to re-opening under section 65 the assessment already framed under section 59(1). Facts of non-service of statutory notice under section 65, on the respondent/assessee, was also not rebutted by the Assessing officer on his personal appearance before the Learned First Appellate Authority. The learned CIT(A) also held that Rule 207A of the Income Tax Rules, 1982 is retrospectively operative by relying on a reported judgment with citation as 2000 PTD 374…

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