| Case ID |
1732ef34-3704-445a-9192-e307dfaf7453 |
| Body |
View case body. Login to View |
| Case Number |
I.T.As. Nos. 1360/KB of 1999-2000 and 2057/KB of 2 |
| Decision Date |
Jan 11, 2003 |
| Hearing Date |
|
| Decision |
The Income Tax Appellate Tribunal upheld the order of the Inspecting Additional Commissioner, determining that the assessment made by the Assessing Officer under Section 59-A of the Income Tax Ordinance, 1979 was erroneous and prejudicial to the interest of Revenue. The Tribunal ruled that the Assessing Officer's acceptance of the declared value of the property was not justified, as it was significantly lower than the collector's prescribed rates. The tribunal emphasized the necessity of a proper assessment process, including the requirement for the production of evidence regarding the valuation of the property. The decision established that procedural deficiencies existed in the earlier assessments, and directed that de novo proceedings should be initiated, allowing for the calling of a wealth statement under Section 58 and considering the evidence for any potential additions under Section 13(1)(d). |
| Summary |
This case revolves around the assessment of income tax obligations under the Income Tax Ordinance, 1979, particularly focusing on the powers of the Inspecting Additional Commissioner to revise assessments made by the Deputy Commissioner. The core issue was the declaration of property value, which was deemed unreasonably low compared to the collector's rates. This case highlights the importance of accurate property valuation in tax assessments, the procedural requirements for such assessments, and the rights of the Revenue authorities to challenge declared values. The Tribunal's decision reinforces the principle that tax assessments must be based on sound evidence and compliance with legal protocols, ensuring fairness in the taxation process. Keywords such as 'Income Tax Ordinance', 'property valuation', 'tax assessment', 'revenue rights', and 'legal compliance' are critical for optimizing search engine visibility. |
| Court |
Income Tax Appellate Tribunal
|
| Entities Involved |
Not available
|
| Judges |
JAWAID MASOOD TAHIR BHATTI,
MUHAMMAD AKHTAR NAZAR MIAN
|
| Lawyers |
Arshad Siraj,
Inayatullah Kashani
|
| Petitioners |
Not available
|
| Respondents |
Not available
|
| Citations |
2003 SLD 125,
2003 PTD 1361,
(2003) 87 TAX 481
|
| Other Citations |
1993 SCMR 462,
1980 PTD 394,
1995 PTD 90,
PLD 1974 Note 129 at p.189,
1993 PTD 1108,
1993 SCMR 1108,
1990 SCMR 34
|
| Laws Involved |
Income Tax Ordinance, 1979,
Stamp Act, 1899
|
| Sections |
66A,
13(1)(d),
55,
58,
58(1),
59A,
59(3),
32
|