KARACHI INSTITUTE OF INFORMATION TECHNOLOGY (PVT.) LTD., KARACHI versus A.C.I.R., AUDIT-II, R.T.O., KARACHI
Sections 122 (5A), 122 (9), 120, 113, 29, 39 and 57 (1) Amendment of Assessment Issue of various showcase notices, seeking information on various points of inquiry into nature Legally repeated showings Notice was issued, initially, for the tax year 2007 due to the difference in capital data, the loss of forward-looking data due to the non-validity of the tax year 2007, information, queries, accounts Notes were issued on the basis of book scrutiny, checking of books of accounts, discussion / suspicion from one side to the other. The opening / payment of the opening paragraph of the showcase notice for tax year 2006 mentioned that the taxpayer had filed the original declaration of Rs 7,396,894 along with the tax payable under section 113 of the Income Tax Ordinance 2001. , But then the amended order under section 122 (5A) of the Revised Income Tax Ordinance was filed in the amended order declaring income of Rs 5,838,241 and after the loss was prevented by the NIL. I was declared taxable income. 2001, as per the original return was approved taking loss figure of Rs. 7,396,894. Similarly, for the tax year 2005 two letters were inquired for seeking information on the nature of which the Assessing Officer. The letter asked the sources of income) Pakistani financial assistance abroad (ii) sale of scrap (iii) return of profit (iv) return of first year liabilities (v) short-term return on investment unexpected and unforeseen Was of a minor nature and had no regular relationship. The business of running an educational institution. And the revenue generated from these sources
