Taxpayer himself had declared income under normal tax regime as well as under final tax regime which stood subjected to withholding provisions of 153(1)(a) of ITO 2001---Assessing authority without any basis presumed that all sales were made to the “prescribed person” as defined in S. 153(7) of ITO 2001---Assessing authority had not given even a single instance of any sale out of sales subject to normal tax regime to draw any adverse inference with regard to the declaration made by the taxpayer---Assessing authority had failed to point out any of the customers of the taxpayer who was found to be the “prescribed person” as per S.153(7) of ITO 2001---Invoking the provisions of S.122(5) without any material “definite information” was not justified.
| Court | Year | Appellant vs Respondent | Sections | Topic |
|---|---|---|---|---|
| Inland Revenue Appellate Tribunal | 2020 | MUHAMMAD HANIF Vs THE CIR, RTO, LAHORE |
Income Tax Ordinance (XLIX of 2001) 153(1)(a), 115(4), 120(1), 122, 153, 153(7), 221, 221(4) |
Invoking the provisions of S.122(5) without any material |