2012 PTD 565

Case Laws / Head Notes / Paras

---Unexplained income or assets---Source of investment was rejected by the Department on the basis that the actual withdrawal of Pak Rupees from the Rupee account was not established; that the receipt of sale proceeds, in instalments, from sale of 57 kanals plot in village, was not proved; that sale proceeds were received in their entirety when the third and final Iqrar Nama was executed and that amount received in its entirety could not have been used to finance the purchases of properties in the prior period---Validity---Department had no clear idea of what it intended to do during Audit---Audit proceedings were started on the premise that the complainant was a dealer in real estate in Pakistan and the differential between purchase price and sale price in the case of properties sold out ...