Law: Income Tax Ordinance, 1979

Section: 59,66A,59,59(4)

(a) Income Tax Ordinance (XXXI of 1979)----Ss. 66-A & 59---Self-assessment for the year 1999-2001---"Income last declared or assessed whichever is higher"---Words "last declared or assessed" as used in Self-Assessment Scheme---Meaning---Assessment which stood completed under S.59(4) of the Income Tax Ordinance, 1979 was cancelled by the Inspecting Additional Commissioner under S. 66A of the Income Tax Ordinance, 1979 on account of its being less than the last highest income assessed for the assessment year 1996-97---Validity---"Last declared or assessed whichever is higher", in the assessee's case would mean relevant to assessment year 1998-99---If assessment for the assessment year 1998-99 had not been finalized for any reason the assessed income of 1997-98 shall be the base if the same was higher from the declared income of 1998-99---Same formula shall apply if in the earlier two years the declared income could not be assessed and the assessed income of third year was higher than the declared income of the two subsequent years---Last assessed income in the assessee's case did not mean highest of any of the earlier years--­Assessed income of 1996-97 could only be made base if for the years 1997-98 and 1998-99 the assessments had not been framed until the date of filing of return for the year 1999-2000---Ordinary dictionary meanings of "last" was also interpreted to be, "coming at the end, most recent, after all others etc. "---Assessee's case was considered fit for acceptance under Self-Assessment Scheme---Order of Inspecting Additional Commissioner was cancelled by the Tribunal. (b) Words and phrases--- ---- Word "last"---Meaning. THIS ORDER PASSED BY : : KHAWAJA FAROOQ SAEED (JUDICIAL MEMBER).---The cancellation of order under section 66A is agitated by the Assessee. The petitioner has challenged the invocation of jurisdiction under section 66A mainly on the point that 'last declared or assessed' as used in Self-Assessment Scheme for the Assessment Year 1999-2000 does not mean last ever highest assessed in a number of years. It basically means 'latest declared or latest assessed'. On the other hand the learned D.R. supported the argument of the I.A.C.…

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