Law: Income Tax Ordinance, 2001

Section: Second Sched,Part I,Cl.(103B),150,156(2),2 33(2)

(a) Interpretation of statutes--- ----"Beneficial legislation"---Meaning and scope of---Principles of interpretation, explained. N. S. Bindra, Interpretation of Statutes, Tenth Edition, pp.341-342 & 348 ref. (b) Interpretation of statutes--- ----"Remedial or curative statutes"---Meaning and scope of---Principles of interpretation, explained. N. S. Bindra, Interpretation of Statutes, Tenth Edition, pp.341-342 & 348 and Antonin Scalia & Bryan A. Garner, Reading Law, The Interpretation of Legal Texts, 2012, p.365 ref. (c) Interpretation of statutes--- ----Retroative legislation--- Retrospective effect of legislation---Principles of interpretation---Scope---Retroactive legislation was looked upon with disfavour, as a general rule, and properly so because of its tendency to be unjust and oppressive---In the absence of any indication in the statute that the Legislature intended for it to operate retroactively, it must not be given retrospective effect---Where a statute however, was procedural, declaratory or explanatory or where a statute was passed for the purpose of supply an obvious omission in a former statute, it was to operative retrospectively obviously because it did not affect vested rights. Earl T. Crawford, The Construction of Statutes, 1940 pp.562-563; Taxmann Interpretation of Taxing Statutes, p.475 and 1993 SCMR 73 at 78 rel. (d) Interpretation of statutes--- ----Retrospective effect of beneficial, remedial or curative legislation---Meaning, object, scope and principles of interpretation for such statutes explained. N. S. Bindra, Interpretation of Statutes, Tenth Edition, pp.341-342 & 348; Antonin Scalia and Bryan A. Garner, Reading Law, The Interpretation of Legal Texts, 2012, p.365; Earl T. Crawford, The Construction of Statutes, 1940 pp 562-563; Taxmann Interpretation of Taxing Statutes, p.475; Commissioner of Income Tax v. Shahnawaz Ltd. and others 1993 SCMR 73 and State Bank of Pakistan v. Messrs Faisal Spinning Mills Limited 1997 SCMR 1244 rel. (e) Interpretation of statutes--- ----Beneficial legislation---Retrospective effect of beneficial legislation---Liberal interpretation---Scope---Beneficial legislation,…