| Citation(s) |
|---|
| 2015 SLG 147 2015 SLD 147 2015 PTD 884 |
Lahore High Court
PTRs Nos. 147, 152, 242, 372, 467, 468, 469, 470, 471, 557,558, 559, 560, 561, 205, 213, 241, 376, 377, 378, 379, 380,421, 422 of 2012, decided on 19th November, 2014
ABID AZIZ SHEIKH AND SHAHID, JAMIL KHAN, JJ
Khawaja Farooq Saeed, for Applicants (in PTRs Nos.147, 152, 242, 372, 467, 468, 469, 470, 471, 557, 558, 559, 560 and 561 of 2012). Amjad Hussain Malik, for Applicants in (PTRs Nos. 205 and 213/2012). Sajjad Haider Rizvi, for Applicant (in PTR No. 241 of
PTRs Nos. 147, 152, 242, 372, 467, 468, 469, 470, 471, 557,558, 559, 560, 561, 205, 213, 241, 376, 377, 378, 379, 380,421, 422 of 2012, decided on 19th November, 2014
ABID AZIZ SHEIKH AND SHAHID, JAMIL KHAN, JJ
Khawaja Farooq Saeed, for Applicants (in PTRs Nos.147, 152, 242, 372, 467, 468, 469, 470, 471, 557, 558, 559, 560 and 561 of 2012). Amjad Hussain Malik, for Applicants in (PTRs Nos. 205 and 213/2012). Sajjad Haider Rizvi, for Applicant (in PTR No. 241 of
COMMISSIONER INLAND REVENUEvsIMPERIAL ELECTRIC COMPANY (PVT.) LTD
Law: Income Tax Ordinance, 2001
Section: 113,169,120,133,115(4),113(2)
Law: Finance Act, 2008
Section: 18(8)
(a) Income Tax Ordinance (XLIX of 2001)--- ----Ss. 113, 169, 120 & 133---Finance Act (I of 2008) S. 18(8)---Reference to High Court---Minimum tax on turnover---Phrase "Turnover from all sources" occurring in S.113, Income Tax Ordinance, 2001---Scope---Final Tax Regime under the Income Tax Ordinance, 2001---Interpretation of S. 113 of the Income Tax Ordinance, 2001 [as it stood before omission by S. 18(8) of the Finance Act, 2008]---Question before the High Court was whether receipts and tax paid under the Final Tax Regime under the Income Tax Ordinance, 2001 could be included in "aggregate turnover from all sources" for charging of minimum tax under S. 113 [as it stood before omission vide S. 18(8) of the Finance Act, 2008] of the Income Tax Ordinance, 2001----Held, that provisions of the Income Tax Ordinance, 2001 when examined under the principle that "statute should be read as a whole" or that "textual interpretation should match the contextual", then while there was no cavil that taxation under Normal Tax Regime and Final Tax Regime were different in nature and mutually exclusive, however it could not be ignored that income charged to tax under the Final Tax Regime in lieu of income tax arrived through the conventional way (through assessment) was an independent source of income and it was also not ignorable that after being taxed under the Final Tax Regime, in an unconventional way, an assessment order was treated as passed under Normal Tax Law---Under S. 169(3) of the Income Tax Ordinance, 2001 a statement filed under S. 115(4) of the Income Tax Ordinance, 2001 was treated as an assessment order under S. 120 of the Income Tax Ordinance, 2001 and source of such income was not found to have been excluded specifically from "turnover from all sources"----Argument that phrase "turnover from all sources" used in S. 113 of the Income Tax Ordinance, 2001 meant only the source of income determined under normal law was misconceived, and had the Legislature intended it to be so, it could have been done by use of clear words---Finality of the Final Tax Regime was not compromised by inclusion of its receipts in "turnover from all sources" because minimum tax was…