Law: Income Tax Ordinance, 2001

Section: 122,122(5A)

Income Tax Ordinance (XLIX of 2001)----S.122(5A)---Amendment of assessment---Assessment was amended in manners that tax @ 5% was charged on the declared receipts earned so as to bring same within the scope of presumptive tax regime---First Appellate Authority annulled the orders passed under S.122(5A) of the Income Tax Ordinance, 2001 with the conclusion that neither it was erroneous nor prejudicial to the interest of Revenue---Validity---First Appellate Authority had in detail dilated upon the two conditions required for invoking the provisions of S.122(5A) of the Income Tax Ordinance, 2001 which were that firstly the Commissioner could amend an order if it was erroneous and secondly it was also prejudicial to the interest of Revenue---Revising authority without bringing on record any legal justification for converting the income which had already been processed under the normal tax regime by conscious application of mind, had brought it into the scope of presumptive tax regime merely on surmises which could not be approved---For determining as to whether a particular income which fell in the presumptive tax regime proper parameters had been laid down in the statute, still the revising authority preferred to proceed arbitrarily without making the basis known for so proceedings in the manner---Exercise by the revising authority had been undertaken when application in form of complaint before the Federal Tax Ombudsman was lodged on not receiving the determined refund that proceedings under S.122(5A) of the Income Tax Ordinance, 2001 were initiated and finalized in haste---Held, orders were unexceptionable which did not call for any interference at level of Appellate Tribunal---Department appeals were rejected by the Appellate Tribunal being devoid of any merit. ORDER NASEER AHMAD (ACCOUNTANT MEMBER).---The captioned appeals have been filed by the Revenue against order dated 25-4-2005 recorded by the learned CIT (A), Zone-V, Lahore relating to the assessment years 2003, 2004 and 2005 to agitate the cancellation of assessments passed by the Assessing Officer under section 122(5A) of the Income Tax Ordinance, 2001. 2. Facts in brief giving rise to filing of the…

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