ORDER

The titled first appeal has been preferred by the taxpayer directly before the tribunal under section 131 read with erstwhile provisions of section 126A of Income Tax Ordinance, 2001 (hereinafter referred as 'ITO') against order dated 10-06-2024 passed by AC/DCIT Range-III, Zone-II, CTO, Lahore whereby taxpayer's assessment for tax year 2018 was amended under section 122(1)/(5). During the pendency of this appeal, the appellant also filed a miscellaneous application for raising addition ground which is allowed in the interest of justice.2. Brief facts of the case are that the taxpayer, a private limited company, filed its income tax return for tax year 2018 declaring taxable property income at Rs.12,398,881/- and loss from business at Rs.67,222,742/-. The return, so filed, constituted as deemed assessment order in terms of section 120 of the ITO. Subsequently on the basis of definite information received by the department in respect of purchase of certain properties by the taxpayer, th...