| Case ID |
43d68c21-ccd0-447e-99ce-4e6fc802c1dd |
| Body |
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| Case Number |
I.T.As. Nos. 1814/LB, 1815/LB, 4432/LB and 4431/LB |
| Decision Date |
Jun 09, 1996 |
| Hearing Date |
Jun 09, 1996 |
| Decision |
The Tribunal ruled in favor of the Assessee, stating that the Wealth Statement filed prior to the finalization of the assessment was valid and should have been considered. The additions made under section 13(1)(b) of the Income Tax Ordinance were deemed uncalled for since the amounts were already disclosed in the Wealth Statement. The Tribunal also found that the imposition of penalties under section 91 was unjustified due to the deletion of the added amounts. Consequently, the appeals were allowed and the penalties were canceled. |
| Summary |
In the case of I.T.As. Nos. 1814/LB, 1815/LB, 4432/LB, and 4431/LB of 1992-93, the Appellate Tribunal Inland Revenue addressed significant issues under the Income Tax Ordinance, 1979. The case revolved around the validity of a Wealth Statement filed by the Assessee before the finalization of the assessment for the years 1990-91 and 1991-92. The Tribunal concluded that the Wealth Statement should have been accepted and that the additional tax imposed under section 13(1)(b) was not warranted. The Tribunal also noted the Assessee's old age and simple living conditions, which contributed to their decision against the imposition of penalties. This case highlights crucial aspects of tax law, particularly the importance of accurate financial disclosures and the rights of taxpayers in challenging unjust tax assessments. |
| Court |
Appellate Tribunal Inland Revenue
|
| Entities Involved |
Not available
|
| Judges |
CH. MUHAMMAD ISHAQ, JUDICIAL MEMBER,
SALEEM ASGHAR MIAN, ACCOUNTANT MEMBER
|
| Lawyers |
Muhammad Iqbal Hashmi, A.R. for Appellant,
Muhammad Akram Tahir, D.R. for Respondent
|
| Petitioners |
Not available
|
| Respondents |
Not available
|
| Citations |
1997 SLD 306,
1997 PTD 2386
|
| Other Citations |
Not available
|
| Laws Involved |
Income Tax Ordinance, 1979
|
| Sections |
13(1)(b),
91,
13(I)(e),
13
|