Law: Income Tax Ordinance, 1979

Section: 66A,59A&59(1),50,53

(a) Income Tax Ordinance (XXXI of 1979)----Ss. 66-A, 59-A & 59(1)---Powers of Inspecting Additional Commissioner to revise Deputy Commissioners order---Assessment was finalized under Self-Assessment Scheme--Cancellation of assessment under S.66-A of the Income Tax Ordinance, 1979 in absence of any written assessment order---Validity---Assessment was finalized under S.59-A of the Income Tax Ordinance, 1979---Assessing Officer was required to pass an order in writing stating the reason for his being satisfied that the return furnished under S.55 of the Income Tax Ordinance, 1979 was correct and complete---Under the provision of both the Ss. 59(1) & 59-A of the Income Tax Ordinance, 1979, Assessing Officer was required to assess the net income by an order in writing and determine the tax payable on the basis of such assessment---No demand notice- should be issued without an order in writing---Order passed by the Inspecting Additional Commissioner under S.66-A of the Income Tax. Ordinance, 1979 was not maintainable in the absence of a valid assessment order passed by the Assessing Officer---Order passed under S.66-A of the Income Tax Ordinance, 1979 was vacated by the Appellate Tribunal. 2003 PTD (Trib.) 2276; 2003 PTD 1530; 1993 PTD-332; 2002 PTD (Trib.) 912; 2003 PTD 2097; 2000 PTD (Trib.) 1821 and 1989 PTD 1300 rel. (b) Income Tax Ordinance (XXXI of 1979)--- ----Ss. 66-A, 50 & 53---Powers of Inspecting Additional Commissioner to revise Deputy Commissioners order---Proceedings under. S.66-A of the Income Tax Ordinance, 1979 were invoked by the Inspecting Additional Commissioner for the reason that advance tax paid by the assessee was not shown as an asset in the balance-sheet ---Assessee explained that the same was transferred to the capital account of the partners--Validity---Appellate Tribunal remanded the case with direction that contention of the assessee that tax paid/deducted was credited to the capital account of partners be verified from the account books---Assessee be provided an opportunity to explain the discrepancy, if any, found in the reconciliation statement of tax paid/payable before proceedings under S.66-A of the Income Tax…

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