assessment for the year beginning on the first day of July 2002 or making any deduction or collectio

GOVERNMENT OF PAKISTAN REVENUE DIVISION CENTRAL BOARD OF REVENUE ***** Islamabad, the September 14 , 2002. NOTIFICATION (Income Tax) S.R.O.633(I)/2002.- In exercise of the powers conferred by section 240 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Government is pleased to direct that in making any assessment for the year beginning on the first day of July 2002 or making any deduction or collection of tax for the year beginning on the first day of July 2002, the said Ordinance shall have effect as if,- (1) in section 114,- (a) in sub-section (3), clause (d), were omitted; and (b) in sub-section (5), for the words “only in respect of the” the words “in respect of one or more” were substituted. (2) in section 121, (a) in sub-section (1), for the words and comma “under this Ordinance, or the repealed Ordinance” the words “by the Commissioner through a notice” were substituted; and (b) in sub-section (3), the words “and shall be an alternative to the application of in sub-section (4) of section 114” were omitted. (3) in section 122,- (a) after sub-section (4), the following new sub-section were inserted, namely:- “(4A) An amended assessment shall only be made within six years of the date of original assessment.”; (b) in sub-section (5), in clause (a), after the word “Ordinance”, the words “or the repealed Ordinance” were inserted; (c) in sub-section (5), in clause (b), for the words “assessment is incorrect” the words “income has been concealed or inaccurate particulars of income have been furnished or the assessment is otherwise incorrect” were substituted; and (d) after sub-section (5), the following new sub-section were inserted, namely:- “(5A) where a person does not produce accounts and records, or details of expenditure, assets and liabilities or any other information required for the purposes of audit under section 177, or does not file wealth statement under section 116, the Commissioner may, based on any available information and to the best of Commissioner’s judgement, make an amended assessment.”. (4) in section 137,- (a) in sub-section (1), after the word “taxpayer” occurring for the second time, the words “including tax payable under section 113” were inserted; and (b) in sub-section (3), after the brackets and figure “(2)” the word, brackets and figure “or (4)“ were inserted. (5) in section 147, in sub-section (11), after the brackets, letter and comma “(b),” the brackets, letter and comma “(ba),“ were inserted. (6) in section 161, in sub-section (1),- (a) in clause (a), after the figure “XII”, the words and figure “or as required under section 50 of the repealed Ordinance” were inserted; and (b) in clause (b), after the figure and comma “160,” the words, figures, brackets and comma “or having collected tax under section 50 of the repealed Ordinance pay to the credit of the Federal Government as required under sub-section (8) of section 50 of the repealed Ordinance,” were inserted. (7) in section 221, after sub-section (1), the following new sub-section was inserted, namely:- “(1A) The Commissioner may amend by an order in writing, any order passed under the repealed Ordinance by the DCIT, or an Income Tax Panel, as defined in section 2 of the repealed Ordinance.”. (8) in section 239,- (a) in sub-section (2), after the figure and letter “59A” the word and figure “or 61” were inserted; and (b) sub-section (18), was omitted. [C.No.4(33)ITP/2002] (VAKIL AHMED KHAN) MEMBER (DIRECT TAXES)/ADDITIONAL SECRETARY