Law: Income Tax Ordinance, 1979

Section: 2,2(7),65&66A,129,134

Law: Contract Act, 1872

Section: 14

(a) Income Tax Ordinance (XXXI of 1979)---S. 2(7)---"Assessment"---Connotation---Essentials---Scope---Assess­ment is an order through which the Revenue expresses itself on the income earned by or accrued to an assessee during a particular accounting period---Such an expression is generally based upon the declarations -and affirmations made with regard to his income by an assessee and- their acceptance or rejection or part acceptance and part rejection by the Assessing Authority---Expression of the Revenue as to income of assessee upon return filed under Self-Assessment Scheme is more fictional and presumed than real---Assessment based upon return or subsequent inquiries conducted by the Revenue is an assessment simpliciter---Assessment deemed under the law, such as acceptance of declared version under Self-Assessment Scheme, is as good an assessment order as the one framed after observing prescribed procedure---No assessment order takes precedence under the law over the other merely by reason that a particular procedure was or was not followed---Ex parte assessment order ranks equal with a contested one--Flaw in framing of an assessment does not by itself make the same a lesser assessment deserving any little respect for computation of income made therein---Assessment order once framed carries with it an element of finality though subject to provisions of law with regard to revision or appeals---Assessment once framed and served upon assessee demonstrates a legal demand or absence of it, irrespective of the grounds on which same can possibly be assailed. (b) Income Tax Ordinance (XXXI of 1979)--- ----Ss. 65 & 66-A---Contract Act (IX of 1872), S. 14---Additional assessment--- Re-opening of agreed assessment---Agreed assessment though a settlement of contractual nature could not be declared to be a voluntary agreement between the Revenue and assessee fulfilling all the codal requirements of a contract enforceable at law---If the agreed assessment was at par with any other agreement enforceable in law even then some steps would have to be spared for the concept of voidable agreement---Assessing Officer framing an agreed assessment could always make a case to…

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