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COMMODITY & EQUIPMENT INT\'L (PVT.) LTD. versus COMMISSIONER OF INCOME-TAX

Section 32 (3) Method of Accounting Section 32 (3), Income Tax Ordinance, 1979 Requirement \ r \ n \ r \ n Section 32 (3), Income Tax Ordinance 1979 shows where there is no regular accounting The procedure has not been taken. Or the method used is such that in the opinion of the Deputy Commissioner the income, profits and benefits cannot be properly deducted or, where subsection (2) applies, the assessment accounts fail to be maintained, and the payment Or does not transact on the record. This form or method, as prescribed under the said subsection, will only be calculated on the basis of this and in this manner the income, profit and periodic comp of the deputy commissioner, as the Deputy Commissioner considers in section 32 (3) of the Income ). The Tax Ordinance, 1979 cannot be made unless the conditions specified in the terms themselves are fulfilled. In the present situation, the Assisting Officer has nowhere to find out that the accounts have not been properly maintained. ned or maintained in such a manner that deductions of correct income, profits and benefits are not possible. On the contrary, the Assessing Officer has stated that in these circumstances the Income Tax Appellate Tribunal must purchase the Income Tax Appellate Tribunal. And confirm the sale. It appears that the Income Tax Appellate Tribunal has failed to disclose that in the context of announced purchases and sales approvals, the increase in the GP rate would be contrary to the principle of accountancy and indeed certainly bad math. r \ n best advocate from Killa Abdullah lawyer