Law: Income Tax Ordinance, 1979

Section: 136,13,13(1)(aa)

(a) Income Tax Ordinance (XXXI of 1979)----S. 136---Reference to High Court---Scope---Question of fact---Venture in, the nature of trade---Question whether a venture in the nature of trade was a question of fact and could not be a subject-matter of reference to the High Court. (b) Income Tax Ordinance (XXXI of 1979)--- ----S. 136---Reference to High Court---Scope---Conversion of question of fact into question of law---Principles---Tribunal had neither ignored any material on record nor had misconstrued the same in the light of a specific provision of law to claim that a question of law in the circumstances had arisen out of its order---In the absence of said two factors question of fact could not be converted into one of law merely because the Revenue or the assessee disagreed with the order of the Tribunal. (c) Income-tax--- ----Venture in the nature of trade---Determination---Transaction .has to be seen in the totality of facts which would determine if the transaction was actually in the nature of business as even a single transaction could be a venture in the nature of trade while a number of them may not. (d) Income Tax Ordinance (XXXI of 1979)--- ----S. 136---Reference to High Court--Scope---Question of fact---Tribunal had considered the facts and had come to the conclusion that the profit motive at the time of transfer of land from father to the assessee son was never established by the Assessing Officer---No question of law could be said to have arisen out of the order of the Tribunal. (e) Income Tax Ordinance (XXXI of 1979)--- ----Ss. 136 & 13(1)(aa)---Reference to High Court ---Scope---Question of fact---Deemed income---Determination---Addition---Whether any accretion in the wealth over the years had actually come into being was a question of fact to be determined in the light of the claim of the assessee of his income and other sources---Tribunal against the finding of the Assessing Officer expressed the view that the additions were totally uncalled for inasmuch as admittedly in the relevant year the assessee was purely an agriculturist therefore framing of the assessment in the said year on notional income under S.13(1)(aa) of the Income Tax…

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