Law: Income Tax Ordinance, 2001

Section: 4-A,115,148

Income Tax Ordinance, 2001 (XLIX of 2001)-- ----Ss. 4-A, 115 148--Filing of tax returns--Value of goods--Insertion of Section 4-A in Ordinance, 2001--Imposing of surcharge--Issuance of circular--Statement of income--Filing of writ petition-- Allowed--Determination of tax liability--Principle of beneficial interpretation--Exercising of powers--Extending of exemption--Proportionate tax liability--When no provision of 2001 Ordinance permit splitting of tax year for purposes of determining two separate taxable incomes of same tax year and only way to compute surcharge was to allocate tax liability of entire tax year 2011 proportionately to 3-1/2 months period then question of more than one interpretation of Section 4A does not arise--Courts cannot put two separate interpretations of same provision of law on principle of beneficial interpretation, one of which is beneficial to one set of taxpayers and other to another, though taxing provision applies equally to both sets of taxpayers without any distinction whatsoever--Only way Section 4A would have become workable for purposes of computing surcharge keeping within four corners of Ordinance was that tax liability of entire tax year 2011 was proportionately divided in order to notionally work out tax liability for 3½ month period that falls between 16.03.2011 and 30.06.2011 and then liability of surcharge is computed on such determination--Supreme Court may also point out an important aspect of case which had escaped attention of advocates of parties as well as judges of High Court--Surcharge was to be calculated ˜¦..for period commencing from promulgation of this Ordinance, till 30th June, 2011.--Section 4A in its application came into effect right from date of promulgation of 2001 Ordinance which application was then restricted to only tax year 2011 by its proviso which reads ˜Provided that this surcharge shall not be payable for tax year 2010 and prior tax years and shall be applicable, subject to provisions of sub-section (1), for tax year 2011 only. The proviso makes Section 4A effective for tax year 2011 only--By no means Section 4A is to be read to mean that it covers only a part of tax year, 2011--Said SRO…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492