Law: Income Tax Ordinance, 2001

Section: 120,121,122,122(1),122(5),122(5A),209,21 0

Law: Income Tax Ordinance, 1979

Section: 19,20,20(1)(a),59,59A,62,63,65,65A,66A

(a) Income Tax Ordinance (XLIX of 2001)---Ss. 122, 121 & 120---Income Tax Ordinance (XXXI of 1979), Ss.59, 59A, 62, 63 & 65---Amendment of assessment---Assessment order treated to be issued under S.120 or issued under S.121 of the Income Tax Ordinance, 2001 or under Ss. 59, 59A, 62, 63 & 65 of the Income Tax Ordinance, 1979 could be amended before the substitution and insertion of subsections (5) and (5A) of S.122 of the 'Income Tax Ordinance, 2001 through Finance Ordinance, 2003. (b) Income Tax Ordinance (XLIX of 2001)---S.122---Amendment of assessment---Definite information---Assessing Officer could amend an order 'under subsection (1) of S.122 of the Income Tax Ordinance, 2001 on the basis of definite information regarding concealment of income. I.T.A. No.739/IB of 2003 not relevant. (c) Income Tax Ordinance (XLIX of 2001)---S. 122(1)---Amendment of assessment---Definite information--Information of survey team---Information available with the Taxation Officer did not constitute definite information regarding concealment of income sufficient to take action under S.122(1) of the Income Tax Ordinance, 2001---Genuineness of the agreement alleged to have been made by the assessee before the survey team was found to be doubtful and it could not be considered as definite information sufficient to establish the concealment of income. (d) Income Tax Ordinance (XLIX of 2001)---S.122(1)-Amendment of assessment---Definite information---Estimation of sales survey team---Assessing Officer was not justified to consider the estimation of sales by the survey team as definite information of concealment. (e) Income Tax Ordinance (XLIX of 2001)---S.122(1)---Amendment of assessment---Definite information---Assessment order could not be amended under S.122 (1) of the Income Tax Ordinance, 2001 on the basis of information the existence of which had not been undoubtedly established. (f) Income Tax Ordinance (XLIX of 2001)---S.122(1)---Income Tax Ordinance (XXXI of 1979), Ss.65 & 66A---Amendment of assessment---Assessing Officer could not de novo re-assess the total income under S.122 (1) of the Income Tax Ordinance, 2001---Condition laid down in subsections (5) and…

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