Law: Income Tax Ordinance, 1979

Section: 5,5(1)(c),66,66A

(a) Income Tax Ordinance (XXXI of 1979)---Ss.66-A & 5(1)(c)---Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order---When Inspecting Additional Commissioner acts as Assessing Officer, he could not,. in respect of such assessments exercise the powers of revision under S.66-A of the Income Tax Ordinance, 1979 and in that case, as provided under S.5(1)(c) of the Income Tax Ordinance,'1979, read with S.66-A of the Income Tax Ordinance, 1979, the revisional powers shall be exercisable by the Commissioner of Income Tax. (b) Income Tax Ordinance (XXXI of 1979)----S.66-A---Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order---Assessments were cancelled on the contention that the Housing Societies engaged in the development of residential colonies were subjected to tax on their receipts from sale of plots of land to its members or clients at the G.P. rate 15% on such receipts---Validity--­Inspecting Additional Commissioner fell in error by coming to the conclusion that receipts from sale of land were never scrutinized by the Assessing Officer who had admittedly obtained details of the business and found no reason to subject the receipts of the assessee to G.P. rate at 15%--­No material was available to hold that S.66-A was applicable on the ground that proper treatment as per law had not been accorded resulting in the loss of revenue---First requirement of issuance of notice was not fulfilled because the original assessment orders could not be considered as erroneous insofar as prejudice to the interest of revenue---Notice issued under S.66-A was neither based' on any enquiry, evidence or material on record, nor issued after, examination of the case with an independent, impartial and unbiased mind, especially when most of the original assessments had been made by his counterpart Inspecting Additional Commissioner--Inspecting Additional Commissioner was not competent to pass the impugned order under S.66-A of the Income Tax Ordinance, 1979 in circumstances. Sukdeo Doe Jalan v. C.I.T. 26 ITR 617 distinguished. 1988 PTD 723; 1984 PTD 201; 1984 PTD 137; 1969 PTD (Trib.) 144; Glaxco Laboratories' case 1992 SCC…

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