Law: Income Tax Ordinance, 1979

Section: 66A

(a) Income Tax Ordinance (XXXI of 1979).....S. 66 A Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order Discount on sales Claim of, in Profit and Loss Account Re opening of assessment on the ground that Assessing Officer had wrongly allowed expenses on account of discount on sales which were not an expense on Profit and Loss Account rather it was an entry of trading account Validity Assessee took sales on gross basis and discount was claimed as selling expenses Such methodology related to adoption of account If gross sales were taken and selling expenses were claimed in Profit and Loss Account, same would not affect the net result Disagreement between two officers could not constitute a valid basis for re opening of the case. (b) Income Tax Ordinance (XXXI of 1979) S. 66 A Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order Basic ingredient for reopening of case under S.66 A of the Income Tax Ordinance, 1979 was the exact finding on an issue of fact Arguable and controversial findings could not be made basis for reopening of the case under S.66 A of the Income Tax Ordinance, 1979. (c) Income Tax. Ordinance (XXXI of 1979) S. 66 A Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order Estimation of sales Consumption of electricity units Re opening of assessment on the ground that estimation of sales was not made on the basis of criterion of consumption of electricity units Validity Assessing Officer had the discretion to justify his estimation particularly when the assessee contended that consumption of electricity mainly related to the production and not with sales Item of higher, value may consume less electricity in its manufacturing and an item of less value may consume higher electricity in its manufacturing process as their production was controlled by the market demand For purposes of exact analysis, Assessing Officer had to make detailed scrutiny Same was a disagreement on an issue of fact which could not constitute a valid basis for reopening of the case. (d) Income Tax; Ordinance (XXXI of 1979) S. 66 A Powers of Inspecting Additional Commissioner to revise Deputy…

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