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I.T.A. NO.2199/LB OF 1995 versus I.T.A. NO.2199/LB OF 1995


Income Tax Ordinance 1979 Section 13 (1) (b) Investment books are not shown in the books of account The validity of a private limited company has been accepted by the Income Assessing Officer but given the history of the case, the profit and loss account is backed up. Under section 13 (1) (b) of the Income Tax Ordinance, 1979, as a basis for concealment: Appraisal of the property retained in the appeal for immovable property CIT (A) In fact, the property Was purchased from one who was allocated this property in lieu of shares granted to him by the Overseas Pakistani quota.

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