I.T.A. NO.63/LB OF 1992-93 VS I.T.A. NO.63/LB OF 1992-93
1997 P T D (Trib.) 2125
[Income-tax Appellate Tribunal Pakistan]
Before Inam Ellahi Sheikh, Accountant Member and
Nasim Sikandar, Judicial Member
T.A. No.63/LB of 1992-93, decided on 22/12/1996.
Income Tax Ordinance (XXXI of 1979)---
----S. 22---Income from business---III-health cause of decline in business -- Assessee returned sales--: Same was declined and adopted at high altitude-- First Appellate forum confirmed treatment---Held, considering submissions of assessee that he was not keeping good health as a result of which sales may have been declined---Sale estimate was fixed at Rs.5,50,000 instead of Rs.6,00,000.
Muhammad Riaz Malik for Appellant.
Mrs. Sabiha Mujahid, D.R. for Respondent.
Date of hearing: 19th December, 1996.
ORDER
INAM ELLAHI SHEIKH (ACCOUNTANT MEMBER).---An individual assessee, deriving income front purchase and sales of electric goods, has filed this further appeal against the Order dated 2Q-5-1992 recorded by the learned Commissioner of Income Tax (Appeals), Zone III, Faisalabad.
2. Relevant facts, in brief, are that the assessee filed a Return to declare the income at Rs.53,430 which was assessed at Rs.68, 000. Sales were declared at Rs.5, 00,000 with a G.P. Rate of 15%. The Assessing Officer estimated the sales at Rs.6, 00,000 and allowed the expenses at Rs.22,000. The learned C.I.T. (Appeals) confirmed this treatment.
3. The main grievance of the assessee is on the issue of sales, the learned A.R. of the Assessee has submitted that the sales estimate was excessive considering the ill-health and age. The learned P.R. on the other hand, opposed the appeal with the submissions that the sales estimate was not excessive as in the earlier years, the sales had been estimated at Rs.6,00,000 as confirmed by the Tribunal.
4. Considering the submissions of the learned A.R. that the assessee was not keeping good health as a result of which the sales may have declined, the sales estimate is fixed at Rs.5,50,000. No other ground was pressed.
5. The appeal succeeds partly.
C.M.S./354/Trib Order accordingly.