COMMISSIONER INLAND REVENUE, ZONE-II, LARGE TAXPAYER UNIT (LTU), LAHORE vs PEPSI COLA INTERNATIONAL (PVT — 2022 PTD 97 INLAND REVENUE APPELLATE TRIBUNAL OF PAKISTAN

Case information

Citation: 2022 PTD 97 INLAND REVENUE APPELLATE TRIBUNAL OF PAKISTAN
Year: 2022
Reporter: PTD
Parties: COMMISSIONER INLAND REVENUE, ZONE-II, LARGE TAXPAYER UNIT (LTU), LAHORE vs PEPSI COLA INTERNATIONAL (PVT
Subject matter: Tax & Customs
Provisions referred to: 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, ZONE-II, LARGE TAXPAYER UNIT (LTU), LAHORE VS PEPSI COLA INTERNATIONAL (PVT.) LTD. S.122(5a)---Reassessment---Principle---Limitation---Taxpayer was aggrieved of reassessment made by assessing Officer beyond time limitation---Validity---Held, it was not open for a tax authority to pick any item of expense from return of taxpayer on the basis of guesswork, seek explanation from taxpayer or call records and then frame an opinion to amend assessment under S.122(5a) of Income Tax Ordinance, 2001---Factum of erroneousness and loss of revenue must be afloat from records beyond any shadow of doubt or ambiguity in order to make a resort to S.122(5a) of Income Tax Ordinance, 2001--- assumption of jurisdiction by assessing Officer was incorrect---Taxpayer furnished its return of income for tax year 2007 on 30-09-2009 i.e. prior to amendment in S.122(2) vide Finance act, 2009, through which limitation to complete assessment was extended from five years to six years---Deemed assessment was required to be amended up to 10-9-2012 whereas it was amended on 30-6-2013 and the same was barred by time limitation as provided under law---High Court set aside amended assessment order as the same was barred by time---appeal was dismissed accordingly.

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