Law: Income Tax Ordinance, 1979

Section: 57,61,62,114,114(6),122,122(3)(b),239,23 9(1)

Income Tax Ordinance (XLIX of 2001)--Ss. 114(6), 122(3)(b) & 239(1)---Income Tax Ordinance (XXXI of 1979), Ss. 61, 62 & 57---Return of income---Assessment year 2001-2002---Revised return---Assessee contended that Assessing Officer illegally assessed the revised return filed under S.114(6) of the Income Tax Ordinance, 2001 which was to be an amended assessment order under S.122(3)(b) of the Income Tax Ordinance, 2001---Validity---Income Tax Ordinance, 2001 had come into force on 1-7-2002 and under the saving provision of S.239(1) of the Income Tax Ordinance, 2001---Taxation Officer had rightly not accepted the revised return, as it was not obligatory to accept the same under the Income Tax Ordinance, 1979---Sales estimated being still excessive were reduced by the Appellate Tribunal and GP rate applied @ 25% was directed to be applied @ 20% keeping in view the parallel cases. ORDER JAWAID MASOOD TAHIR BHATTI (JUDICIAL MEMBER).---The appellant through this appeal has objected to the impugned order of the learned CIT(A), dated 6-7-2004 for the assessment year 2001-2002 on the following grounds:-- (2) That the lower authority was illegally assessed the revised return under section 114(6) which is to be an amended assessment order under section 122(3)(b) of the Income Tax Ordinance, 2001. The learned CIT(A) has confirmed the action of the Taxation Officer without any reason. (3) That the estimation of sales at Rs.22,00,000 is still excessive and unjustified as against declared sale of Rs.15,00,000. That the learned CIT(A) was not justified to confirm the GP rate at 25% when in number of cases, the GP has been reduced from 25% to 20% in same nature of business. Mr. Yawar Mehdi Naqvi, Advocate representing the appellant has contended that appellant, in this case, has filed revised return under section 114(6) of the Income Tax Ordinance, 2001, which has to be accepted by the Taxation Officer as declared by the assessee under section 122(3)(b) of the Income Tax Ordinance, 2001. He has contended that Taxation Officer, in this case, has rejected the revised return without any justification and has made the assessment. On the merits of the case, the learned counsel…

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