Law: Income Tax Ordinance, 2001

Section: 4,49,49(1)(2)(3)(4),80,80(1)

Law: Finance Act, 2004

Section: 49(4)

Law: Constitution of Pakistan, 1973

Section: 165,165-A

Income Tax Ordinance (XLIX of 2001)--- ----Ss. 49, 4 & 80---Constitution of Pakistan, Arts. 165 & 165-A----Exemption of certain public property from taxation under Art. 165 of the Constitution-----Liability of income tax on statutory bodies/entities----Benefit of exemption of levy of income on income of Federal and Provincial Governments and local authorities under S.49 of the Income Tax Ordinance, 2001---Scope---Question before the High Court was whether certain statutory bodies including Regulatory Authorities and publicly owned Banks were entitled to exemption from payment of Income Tax under S.49(4) of the Income Tax Ordinance, 2001---Held, that no provision existed in statutes establishing the present statutory bodies exempting the same from payment of tax and the same could not be termed as "local authorities" under S.49 of the Income Tax Ordinance---Under Art. 165 of the Constitution, income or property of Federal Government can be liable to taxation under an Act of Parliament unless specifically exempted from the same and in the present case, there existed no statutory provision exempting present entities from exemption----Term "person" used in S.4 of the Income Tax Ordinance, 2001 included the Federal Government---Section 49(4) of the Income Tax Ordinance, 2001 was a declaratory legislation meant to achieve purpose which had already been achieved in Art. 165A of the Constitution and its insertion did not mean to imply that prior to its insertion, the present statutory bodies were exempt from payment of tax, and thus the same did not have retrospective effect---Reference was answered accordingly. Deputy Managing Director, National Bank of Pakistan v. Atta ul Haq PLD 1965 SC 201; Pakistan Telecommunication Authority v. Commissioner Income Tax, Coys Zone Islamabad Tax Reference No.160/2008 and Securities and Exchange Commission of Pakistan v. Commissioner of Income Tax (Audit), LTU, Islamabad Income Tax Reference No.26 of 2010 rel. THIS JUDGMENT DELIVERED BY: MIANGUL HASSAN AURANGZEB, J.--- Through this judgment, we propose to answer Income Tax References Nos.79, 80, 82, 84, 87 and 88/2009, 32, 33, 34, 35, 45, 46, 47, 48, 49 and 60/2012, 144, 146,…

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