Law: Income Tax Ordinance, 1979

Section: .64,65,59A,62,63,65(2)

Law: Wealth Tax Act, (XV of 1963)

Section: 17(1)(a)

Law: Constitution of Pakistan, 1973

Section: 199

(a) Income Tax Ordinance (XXXI of 1979)].....Ss.65 & 64 Constitution of Pakistan (1973), Art. 199 Constitutional petition Maintainability Additional assessment Adequate remedy, availability of - If the adequate remedy was available to the petitioner under the statute, High Court, in its discretionary powers, under Art. 199 of the Constitution would not interfere, but if it was proved that the assessments of the petitioners were either time barred or were so made consciously, taking into account all materials available on the record, then the issuance of the impugned notices would amount to illegality and without waiting for the finalization of assessments, there would be no bar to the filing of Constitutional petition, availing the discretionary equitable and efficacious powers of the High Court under Art. 199 of the Constitution. PLD 1990 SC 399; 1993 SCMR 1108; 2001 S.CMR 777 and 2002 PTD 679 ref. (b) Income Tax Ordinance (XXXI of 1979) Ss.64, 65, 59 A, 62 & 63 Limitation for assessment Scope -Provision of S.64(2) Income. Tax Ordinance, 1979 though prescribed a limitation of two years for finalization of the assessment from the end of financial year, however, such limitation was for the assessments under Ss.59 A, 62 & 63 of the Ordinance and for the assessment under S.65, provision of S.64(3) of the Ordinance had itself prescribed a period of 5 years limitation from the assessment year to which the income was assessable. (c) Wealth tax Limitation for assessment Period of five years was prescribed for the finalization of assessment. (d) Income Tax Ordinance (XXXI of 1979) S. 65(2) Wealth Tax Act (XV of 1963), S.17(1)(a) Additional assessment " Definite information" Concealment of income Purchase of property by assessee partner of an AOP in his individual capacity -Non filing of return Effect Sale agreement of property entered into by the assessee amounted to "definite information" within the meaning of S.65(2), Expln. of the Income Tax Ordinance, 1979 Non filing of the return either on the income tax side or on the wealth tax side in his individual capacity amounted to concealment of income, falling within the purview of S.65(1)(a) of the Income…

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