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I.T.A. NO.2138/LB OF 2002, DECIDED ON 22ND JULY, 2003. versus I.T.A. NO.2138/LB OF 2002, DECIDED ON 22ND JULY, 2003.


Section 66A & 12 (12) Additional Commissioner's Inspection Powers to Review the Order of the Deputy Commissioner, CBR Circular No. 14 of 1992, 1979 on the basis that the purchase price of the shares is acceptable without detecting the fair market value. That was higher than the cost price that was generated on the basis of the interval price even if the difference in price and the actual cost would attract the supply of section 12 (12). The Income Tax Ordinance, 1979, was for the purpose of determining the value of shares for the re-sale of a transaction of sale. No one will sell its goods at a lower price than it can get in the open market. There is no moral or legal restriction on it. Selling your goods to a person at a low price but usually not done anywhere in the world except under special circumstances, the provision of the Securities Income Tax Ordinance, 1979 (12) provided a situation in which a person may If the value of the appropriate assets was purchased at a price lower than the fair value, the examining officer had to legally reject the same measure, which the assessing officer also had. The appeal of the SC was rejected by the appellate tribunal as a prejudice to the tax interest in the case.

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