Law: Income Tax Ordinance, 2001

Section: 12(18),39(3),122,122(1),131

Law: Income Tax Ordinance, 1979

Section: 59,59A,63,65,55,60,61,62,134

(a) Income Tax Ordinance (XLIX of 2001)-----Ss. 122 & 131---Finalization of assessment---Addition of amount---Appeal to Appellate Tribunal---Appeal of assessee, had arisen out of order passed by Commissioner of Income Tax (Appeals)---Contention of appellant was that first appellate authority had unjustifiably approved addition under S.12(18) of Income Tax Ordinance, 1979 (since repealed) when amount in question Rs.9 lac was statedly not received by him by way of loan, advance or gift---Plea of appellant was that he had nowhere stated that said amount of Rs.9 lac was in nature of loan, gift or advance and that it was all along his stance that said amount represented "investment" made by his brother in the appellant's business---Assessing Officer found that amount in question had been received by appellant/assessee other than through normal Banking channel and appeared to be in the nature of gift to assessee from his brother and that being so, said amount of Rs.9 lac was found to be hit by mischief of S.12(18) of Income Tax Ordinance, 1979 (since repealed) and brought to tax accordingly---Validity---Assessment for 2000-01 had been finalized under S.59(1) of Income Tax Ordinance, 1979 (since repealed) by operation of law and that assessment had subsequently been taken up for "amendment" under S.122(1) of Income Tax Ordinance, 2001 when on scrutiny that said amount of Rs.9 lac had been received by appellant from his real brother otherwise than through crossed cheque or normal banking channels---Order had rightly been passed on 10-4-2003 under S.122 of Income Tax Ordinance, 2001 as said section was amended through Finance Ordinance, 2002 to extend its applicability to assessment orders issued under Ss.59, 59-A, 63 & 65 of repealed Income Tax Ordinance, 1979---Appellant/assessee had duly participated in assessment proceedings and had responded to notices issued and he never questioned jurisdiction of Assessing Officer---Appellant, in circumstances had acquiesced in the jurisdiction of Assessing Officer--As no assessment proceedings for 2000-01 in the case of Appellant were pending as on 1-7-2002, amendment to assessment finalized under S.59(1) of repealed…

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