Law: Income Tax Ordinance, 1979

Section: 65,653(1)(d),80CC,143B

(a) Income Tax Ordinance (XXXI of 1979)-----S. 65 Additional assessment Definite information Difference of opinion in respect of valuation of an asset Reopening of assessment on the ground that value of plot was not in accordance with the rate fixed by the District Collector Validity Information available with the Assessing Officer for invocation of S.65 of the Income Tax Ordinance, 1979 did not fall within the parameter of "definite information" because such information had to be put to further trial Element of probabilities could not be ruled out from such information Such information was based on conjecture, surmises and whims Whimsical inference drawn from such information could not take place of a "definite information" ¬Debatable information could not be held to be a "definite information". 1990 PTD 338; 2000 PTD (Trib.) 2949 and 1997 PTD (Trib.) 239 rel. (b) Income Tax Ordinance (XXXI of 1979) ¬ Ss. 65 3(1)(d), 80 CC & 143 B Additional assessment Addition Plot on lease Declaration of value to the tune of premium amount and incidental charges deposited in Government account Reopening of assessment on the ground that difference of amount between the value determined according the District Collector rate and value declared would be paid to the previous lessees Addition Validity Not an iota of evidence was available with the Department to indicate, that assessee had made payment over and above the premium actually paid to the Cantonment Board Assessing Officer had no evidence whatsoever that the money had changed hands Assessing Officer was under legal obligation to bring on record irrefutable evidence prior to reopening of completed assessment which could be said to be definite in its character as was contemplated in S.65 of the Income Tax Ordinance, 1979 -Proceedings conducted prior and subsequent to notice issued under S.65 of the Income Tax Ordinance, 1979 were in fact in furtherance of a pre conceived belief that the plot was purchased by making much higher payment to previous lessee Proceedings were initiated in absence of "definite information" Information in possession of Department in no way could be considered as "definite information" to which…

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