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MESSRS DECENT RICE CORPORATION, SHEIKHUPURA versus SECRETARY, REVENUE DIVISION, ISLAMABAD

Section 59 (1) CBR Circular No. 7 2002, Dated 15 6 2002 Self Assessment Scheme, Para 9 (a) (ii) CBR Letter C No 7 (7) S / Assistant Dated 17 12 2002 Federal Tax Ombudsman Establishment of the Office of Ordinance (XXV 2000V), Section 2 (3) Self Assessment Low Net Profit Rate The lower business case was determined for total audit on the basis that it was stated that the net issue as compared to the parallel case. The profit rate is quite low and the business is down too. Compared to last year which required a thorough examination. Annual revenue was higher than last year's earnings, gross profit rate was better than last year's rate, net profit rate improved because it was there for quick sale at the beginning of the year. No opening stock was impacted by the purchase, and when the sale was made for better and better sales, the higher profit margin was evident from last year's net results and closing existence. The stock was supposed to be more involved in borrowing money to close the stock due to higher bank interest and its constitution (borrowed or not) was not known in parallel. There were four times more sales than shown. The two issues cannot be easily understood as parallel to each other. The Regional Commissioner of Income Tax was contrary to the irrational, irrational and irrelevant grounds of law for the selection of a case for a full audit, the Federal Tax Ombudsman was recommended by the Federal Tax Ombudsman. The Complainant / Assisi case for selection is for a total audit best advocate from Mangi lawyer