COMMISSIONER INLAND REVENUE, FAISALABAD vs ZAHID JEE FABRICS LIMITED Ss — 2021 PTD 1705 LAHORE-HIGH-COURT-LAHORE

Case information

Citation: 2021 PTD 1705 LAHORE-HIGH-COURT-LAHORE
Court: Lahore High Court
Year: 2021
Reporter: PTD
Parties: COMMISSIONER INLAND REVENUE, FAISALABAD vs ZAHID JEE FABRICS LIMITED Ss
Subject matter: Tax & Customs
Provisions referred to: S. 114; S. 122; Income Tax Ordinance

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

COMMISSIONER INLAND REVENUE, FAISALABAD VS ZAHID JEE FABRICS LIMITED Ss.114, 120, 122 & 133---amendment of assessment---Filing of revised return by taxpayer during assessment proceedings---Scope---Question before High Court was "whether during assessment proceedings, when taxpayer filed a revised return under S.114(6) of Income Tax Ordinance, 2001; could the Department and appellate Tribunal treat such revised return as invalid when the same was to be deemed to be an assessment order under S.122(3) of said Ordinance"---Held, that for amendment of assessment in terms of Ss.120 & 122(3) of Income Tax Ordinance, 2001, Commissioner had to proceed on basis of said assessment and revised return, if competently filed, would have to be accepted and amended assessment would be passed under S.122 of the Ordinance, while return previously filed lost its efficacy and became irrelevant to extent of any omission or wrong statement---at relevant time, no legal bar existed on taxpayer for filing revised return before completion of assessment proceedings and taxpayer had prerogative to revise return of income before finalization of assessment if taxpayer discovered any omission or wrong statement in previous return---action of Department and Tribunal in treating such revised return as invalid was beyond their jurisdiction as no provision in Income Tax Ordinance, 2001 existed whereby Department could declare such revised return as invalid---Revised return of income, if filed in accordance with requirements of S.114(6) of Income Tax Ordinance, 2001, then no adjudicating authority had power to declare same as invalid---Reference was answered, accordingly.

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