FINDINGDECISION

JUSTICE (RETD.) SALEEM AKHTAR (FEDERAL TAX OMBUDSMAN).-The complainant a Cooperative Society is an existing Income Tax Assessee of Companies Zone-V on National Tax Number 33-09-2720722.2. The complainant has challenged non-issuance of refund by the assessing officer for the assessment year 1997-98 along with compensation @ 15% as provided by section 102 of the repealed Income Tax Ordinance, 1979. The facts of the case are briefly stated as under:--2. The complainant filed return for the assessment year 1997-98 declaring loss of Rs. 3,91,520. The assessment was made under section 62 of the repealed Ordinance and. the net loss was determined at Rs.2,42,769. No tax demand was created due to deduction of tax at source. The assessment was subsequently cancelled by the Inspecting Additional Commissioner of Income Tax under section 66A, of the repealed Ordinance, 1979. The re-assessment was completed under sections 63 and 66A on income of Rs.4,02,29,569 and tax payable was determined at Rs.1,...