S.R.O. 633(I)/2002, Islamabad, the September 14 , 2002

ASSESSMENT FOR THE YEAR BEGINNING ON THE FIRST DAY OF JULY 2002 OR MAKING ANY DEDUCTION OR COLLECTIO S.R.O. 633(I)/2002, Islamabad, the September 14 , 2002:- In exercise of the powers conferred by section 240 of the Income Tax Ordinance, 2001(XLIX of 2001), the Federal Government is pleased to direct that in making any assessment for the year beginning on the first day of July 2002 or making any deduction or collection of tax for the year beginning on the first day of July 2002, the said Ordinance shall have effect as if,- (1) in section 114,- (a) in sub-section(3), clause(d), were omitted; and (b) in sub-section(5), for the words only in respect of the the words in respect of one or more were substituted. (2) in section 121, (a) in sub-section(1), for the words and comma under this Ordinance, or the repealed Ordinance the words by the Commissioner through a notice were substituted; and (b) in sub-section(3), the words and shall be an alternative to the application of in sub-section(4) of section 114 were omitted. (3) in section 122,- (a) after sub-section(4), the following new sub-section were inserted, namely:- (4A) An amended assessment shall only be made within six years of the date of original assessment.; (b) in sub-section(5), in clause(a), after the word Ordinance, the words or the repealed Ordinance were inserted; (c) in sub-section(5), in clause(b), for the words assessment is incorrect the words income has been concealed or inaccurate particulars of income have been furnished or the assessment is otherwise incorrect were substituted; and (d) after sub-section(5), the following new sub-section were inserted, namely:- (5A) where a person does not produce accounts and records, or details of expenditure, assets and liabilities or any other information required for the purposes of audit under section 177, or does not file wealth statement under…