Law: Income Tax Ordinance, 1979

Section: 66,66A,80D,156,62

(a) Income Tax Ordinance (XXXI of 1979)---Ss. 66-A & 80-D---Turnover---Assessee, a travel agent ---Commis­sion---Gross receipts---Sale of assets ---Inspecting Additional Commissioner directed the Assessing Officer to charge tax under S. 80D of the Income Tax Ordinance, 1979 on the gross turnover received by the assessee as an agent on behalf of its principal and sale of assets and. other income was also directed to be considered as part of gross turnover of the assessee for the purpose of charging of tax under S. 80D of the Income Tax Ordinance, 1979---Validity---Turnover of a travel agent was to be taken as commission income only and not turnover on behalf of the principal and sale proceeds of assets were also not relevant for adoption of gross turnover for the purpose of charging tax under S. 80D of the Income Tax Ordinance, 1979---Revisional order passed by the Inspecting Additional Commissioner was vacated and original order, passed under S.62 of the Income Tax Ordinance, 1979 by the Assessing Officer was restored by the Tribunal. 1994 PTD (Trib.) 758 and 1997 PTD (Trib.) 1120 rel. (b) Income Tax Ordinance (XXXI of 1979)--- ----Ss. 156, 66-A & 62---Assessment---Revision of assessment under S.66-A of the Income Tax Ordinance, 1979---Assessment, after the revision, was rectified under 5.156 of the Income Tax Ordinance, 1979 by the Assessing Officer---Validity---Since original assessment order passed under S.62 of the Income Tax Ordinance, 1979 stood merged with revisional order passed under S.66-A of the Income Tax Ordinance, 1979, the Assessing Officer could not exercise his powers under S.156 of the Income Tax Ordinance, 1979 to rectify the original assessment order for the reason that those orders were not holding the field. 1996 PTD (Trib.) 492, rel. THIS ORDER PASSED BY : SYED NADEEM SAQLAIN (JUDICIAL MEMBER).---These six appeals for the assessment years 1992-93 to 1994-95 have been preferred against the two separate orders i.e., dated 16-12-1995 passed by the learned I.A.C. and dated 21-9-1998 passed by the learned CIT(A). In the first three appeals (I.T.As. Nos.4423 to 4425/LB of 1998) the assessee/appellant feels aggrieved by the impugned…

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