Law: Income Tax Ordinance, 1979

Section: 65,59(1),65(1),59A

(a) Income Tax Ordinance (XXXI of 1979)-----Ss. 65 & 59(1)---Additional assessment---Definite information--¬Issuance of exemption certificate from payment of Capital Value Tax for purchase of property---assessment under Self-Assessment Scheme--¬Reopening of assessment on such information regarding purchase of property---Validity---Department was already in possession of information with regard to purchase of property prior to framing of assessment under S.59(1) of the Income Tax Ordinance, 1979 as well as invocation of provision of S.65 of the Income Tax Ordinance, 1979--¬Such factum was evident from the first show-cause notice which clearly spelt out that the information regarding purchase of property was already in possession of the department when the assessees return of income was subjected to scrutiny for acceptance under the Self ¬Assessment in terms of passing the order under S.59(1) of the Income Tax Ordinance, 1979---No new information had come into possession of the Department to which the provision of S.65 of the Income Tax Ordinance, 1979 could be attracted---Provisions of S.65 of the Income Tax Ordinance, 1979 had been invoked on whimsical inferences, drawn from a set of facts which did not have characteristic of its being definite. (b) Income Tax Ordinance (XXXI of 1979)--- ----S. 65---Additional assessment---" Definite information" ---Purchase of property---Re-opening of assessment requiring assessee to explain source of investment on the ground that income declared/assessed was quite nominal which was not even sufficient to meet day to day expenses--¬Validity---Such information, in no way, could be held to be definite in its character because possibility of fluctuation and adjustment therein could not be ruled out---Such information did not acquire the standard. of 'definite information" ---Department was merely in possession of an information the truth of which had yet to be established---Department had resorted to fishing enquiry -for reopening of case---Reopening of assessment could not be declared to have been validly made in the circumstances. (c) Income Tax Ordinance (XXXI of 1979)--- ----S. 65(1)---Additional assessment--…

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