CAF-2 · Chapter 15 · Question 10 of 15
A taxpayer intends to settle an amendment of assessment case through the Assessment Oversight Committee (Agreed Assessment). Who among the following is NOT a member of this Committee?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) D) A reputable businessman nominated by the Chamber of Commerce.
Explanation
Under Section 122D, the Assessment Oversight Committee comprises exactly three tax authorities: the Chief Commissioner Inland Revenue, the Commissioner Inland Revenue, and the Additional Commissioner Inland Revenue. (A businessman is a member of the ADRC, not the Assessment Oversight Committee).
More Assessment, Records and Audit MCQs
- Q12The Commissioner is generally restricted from selecting a person's income tax affairs for audit under Section 177 if they have been…
- Q13If a registered person voluntarily files a revised return and deposits the tax sought to be evaded along with default surcharge during an…
- Q14The Federal Board of Revenue (FBR) may appoint a Special Audit Panel to conduct a forensic audit of a taxpayer. Who is legally required to…
- Q15Under Section 175B of the Income Tax Ordinance, 2001, which authority is empowered to compute the "indicative income and tax liability" of…
- Q1Under the Universal Self-Assessment Scheme (USAS) principles in Section 120, if a taxpayer furnishes a complete return of income, when is…