Law: Income Tax Ordinance, 1979

Section: 13(2),13(1)(d),65

Law: Income Tax Rules, 1982

Section: 207A

(a) Income Tax Ordinance (XXXI of 1979)].....S.65 Additional assessment " Definite information" Value in a parallel case, whether a definite information By no stretch of imagination it could be said that in a parallel case the value being different the same could be called as "definite information" for invoking jurisdiction under S.65 of the Income Tax Ordinance, 1979. (b) Income Tax Ordinance (XXXI of 1979) Ss.13(1)(d) & 65 Income Tax Rules, 1982, R.207 A Addition -Valuation of property Adjacent property Parallel case Value declared according to the registered deed was considered to be low and on the basis of value declared regarding the adjacent property, the estimate was made and added the same in net income under S.13(1)(d) of the Income Tax Ordinance, 1979 First Appellate Authority annulled the assessment on the ground that S.65 of the Income Tax Ordinance, 1979 was not applicable as the facts on record did not indicate any definite information with the Department with regard to under statement of the value of the property and value declared was in accordance with R.207A of the Income Tax Rules, 1982 Validity No evidence was available to support Department's case that the money paid was more and registered was less Such evidence could be in forum of an agreement to sell, some Bank draft or other similar Bank entry, or some other source from which assessee had made excess payment but nothing had been brought on record Word `definite information' used in S.65 of the Income Tax Ordinance, 1979 and the words `in the opinion of in S.13(2) of the Income Tax Ordinance, 1979 would not mean `reason to suspect' how strong it may be Only that evidence could be used for reopening of an assessment and for subsequent addition under S.13(2) of the Income Tax Ordinance, 1979 which gave reason to believe that the assessee had paid more amount than what had been registered and in this regard all the parameters fixed by the superior Courts required attendance for finalizing of the assessment Section 13 of the Income Tax Ordinance, 1979 was a deeming provision and could not be applied without some objective evidence First Appellate Authority rightly annulled the…

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