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SHAHPOSH GARMENTS, GUJRANWALA vs The CIR ZONE-II, RTO, GUJRANWALA S — 2022 PTD 187 INLAND REVENUE APPELLATE TRIBUNAL OF PAKISTAN

Case information

Citation
2022 PTD 187 INLAND REVENUE APPELLATE TRIBUNAL OF PAKISTAN
Year
2022
Reporter
PTD
Parties
SHAHPOSH GARMENTS, GUJRANWALA vs The CIR ZONE-II, RTO, GUJRANWALA S
Subject matter
Tax & Customs
Provisions referred to
S. 111---U; S. 111; 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

SHAHPOSH GARMENTS, GUJRANWALA VS The CIR ZONE-II, RTO, GUJRANWALA S.111---Unexplained income or assets---Scope---Scope of S.111(1)(d) of the Income Tax Ordinance, 2001, is very definite for the persons allegedly concealing income or furnishing inaccurate particulars of income that is (i) suppression of any production, sales or any amount chargeable to tax or (ii) the suppression any items of receipts liable to tax as a whole or in part---Production and sales are the particulars of income but not income by itself and which if found inaccurate cannot be taxed as income---Provisions of said section never offer suppressed sales to be treated as undisclosed income instead income from business does allow deductions of all business expenditures incurred on its carry taxing net profits instead of total gross sales.

Other judgments reported in 2022 PTD

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