Find a Lawyer

COMMODITY AND EQUIPMENT INTERNATION (PVT.) LTD., KYC versus COMMISSIONER OF INCOME-TAX

Income Tax Ordinance 1979 Section 62 and Evaluation of Assessment Reference for the Production of 136 Accounts, Evidence, etc., declared a gross profit rate of 0% 67 as compared to the gross profit rate of 21% in the last estimate year. The officer applied a gross profit rate of 21%. The first appellate authority on announced sales reduced the gross profit rate from 21 46 percent to 5 percent, and likewise the gross profit rate announced by the appellate tribunal comprising the parallel business increased by 21 percent. Reduced by 12%. The appellant, who previously quoted the appellate authority, said he was not obliged to declare high profits because he had a reasonable explanation that led to lower profits and, thus, gross profit declared for the issuing officer. It was not possible to decline the rate of Referring to this question on the basis of the past history of the assessee as well as the gross profit rate declared by the assets as a parallel business sector claimant was not a question of law but purely a fact question and appellant. The Tribunal had properly reviewed the evidence on record, taking into account the facts and circumstances of the case and had not encountered any misunderstanding upon arrival. Inaccurate settlement or exclusion of evidence on record or relying on an external substance that the fact finding by the tribunal based on the evidence contained on the record cannot be construed as a question of law. The rate was ridiculously low, which the business of estimating or not divorce advocates from Ranipur lawyer