Law: Income Tax Ordinance, 1979

Section: 65

Income Tax Ordinance (XXXI of 1979)----S. 65---Additional assessment---Agreed assessment---Assessments were re-opened on the basis of information received from Central Excise and Sales Tax Department that assessee had sold imported raw material meant for self-consumption in the open market---Legal proceedings initiated against the assessee by the Central Excise and Sales Tax Department were set aside by the Customs Tribunal---Assessee contended that proceedings initiated under S.65 of the Income Tax Ordinance, 1979 should have been quashed as the basis on which proceedings were undertaken no longer existed in the allegation of sale of imported raw material meant for self-consumption---Department contended that assessee had entered into an agreement with the Income-tax Authorities and 'merely setting aside of the case by the Customs Tribunal did not warrant sufficient justification for dropping the proceedings initiated under S.65 of the Income Tax Ordinance, 1979---Validity---Proceedings initiated under S.65 of the Income Tax Ordinance, 1979 were held to be valid along with the consequential treatment in the shape of agreed assessment entered into by the assessee with Department---Assessee could not "wriggle" out of the agreement once it was made by both sides---Neither party could back track on it---Proceedings initiated under S.65 of the Income Tax Ordinance, 1979 and the orders of the First Appellate Authority were maintained in their totality by the Appellate Tribunal. ORDER MAZHAR FAROOQ SHIRAZI (ACCOUNTANT MEMBER).--These are three appeals by the an individual against the order of the learned CIT(Appeals-Zone-IV), Lahore recorded by him on 2-12-2002 in respect of the assessment years 1995-96, 1996-97 and 1997-98. It may be added here that proceedings for all the above mentioned assessment years were finalized under sections 62/65 of the Income Tax Ordinance. The main issues agitated by the learned AR before us are common in all the three assessment years are listed as under:-- "That the learned CIT(A) has grossly erred in law to dismiss the appeal without going into the merits of the case, hence, is unreasonable in law. That the SOIT/WT has erred in law…

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