| Citation(s) |
|---|
| 2006 SLG 153 2006 SLD 153 2006 PTD 1899 |
Income Tax Appellate Tribunal
I.T.As. Nos. 735/LB and 851/LB of 2003, decision dated: 19-09-2005
MUHAMMAD TAUQIR AFZAL MALIK, JUDICIAL MEMBER AND MUHAMMAD MUNIR QURESHI, ACCOUNTANT MEMBER
Siraj Khalid and Sohail Ibne Siraj for Appellant (in I.T.A. No. 735/LB of 2003). Dr. Ahmad Shahab, D.R. for
Respondent (in I.T.A. No. 735/LB of 2003). Dr. Ahmad Shahab, D.R. for Appellant (in I.T.A. No. 851/LB of 2003). Siraj Khalid and Sohail Ibne Siraj
I.T.As. Nos. 735/LB and 851/LB of 2003, decision dated: 19-09-2005
MUHAMMAD TAUQIR AFZAL MALIK, JUDICIAL MEMBER AND MUHAMMAD MUNIR QURESHI, ACCOUNTANT MEMBER
Siraj Khalid and Sohail Ibne Siraj for Appellant (in I.T.A. No. 735/LB of 2003). Dr. Ahmad Shahab, D.R. for
Respondent (in I.T.A. No. 735/LB of 2003). Dr. Ahmad Shahab, D.R. for Appellant (in I.T.A. No. 851/LB of 2003). Siraj Khalid and Sohail Ibne Siraj
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Law: Income Tax Ordinance, 1979
Section: 62,62(1)
(a) Income Tax Ordinance (XXXI of 1979)---S. 62(1)---Assessment on production of accounts, evidence etc.---Add backs of profit and loss expenses on the basis of reasonableness/past history---Assessee contended that treatment accorded by the First Appellate Authority with regard to profit and loss add-backs was not at all justified and these should have been allowed in their entirety as the Assessing Officer had failed to comply with the mandatory requirement stipulated in S.62(1) of the Income Tax Ordinance, 1979 regarding formal confrontation to assessee before drawing any adverse inference---Validity---In case of profit and loss add-backs, it was a fact that formal confrontation under S.62 of the Income Tax Ordinance, 1979 had not been made---No add back would be tenable in law simply on the basis of alleged unreasonableness past history- Appellate Tribunal directed that the claimed expenditure be accepted. 2005 PTD (Trib.) 1208; 2004 PTD (Trib.) 2231; 2002 PTD (Trib.) 1583; 1999 PCTLR 1098; (1984) 50 AX 44; (1970) 76 ITR 365; 2002 PTD 407 HC Kar 417; 1999 PTCLR 1098 (Trib.) 1100; 2004 PTD 1640 FTO/1646-C; 2003 PTD (Trib.) 625; 1999 PTD (Trib.) 3892; 1996 PTD 263; 1998 PTD (Trib.) 860; 2003 PTD (Trib.) 2668 and (1999) 79 Tax 264 (Trib.) 266 rel. (b) Income Tax Ordinance (XXXI of 1979)---S. 62(1)---Assessment on production of accounts, evidence etc.---Formula assessments---Trading account-First Appellate Authority directed to accept the trading account---Appeal by the Department---Assessee contended that Assessing Officer had failed to cite specific defects in the books maintained and to formally confront the assessee under S.62 of the Income Tax Ordinance, 1979---Relief accorded by the First Appellate Authority was fully justified---Validity---No exception could be taken to the finding recorded by the First Appellate Authority with regard to acceptance of manufacturing/trading account of the assessee company---Department's reference to electricity consumption was not convincing---"Formula assessments" were not acceptable---Assessing Officer had not formally confronted the assessee with comprehensive particulars of the case held by him to be parallel to…
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