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Keywords: Notification, Provisional, Interpretation, Commission, Demand Notice, Allowable Expenditure, Jurisdiction, Period, Retrospectively, Objections, Validity, Place, Practice, Enforcement, Alteration, Petition, Call, Plea, Returns, Petitioner, Dispute, Trial Court, Succession, Ultra Vires, Consideration, Prosecution, Government, Violation, Finance Ordinance, Returns Of Income, Procedure, Goods, Assessment Year, Determination, Repugnant, Liabilities, Financial Year, Filing Of Return, Classes, Registered, Notice, Costs, Exemption, Without Jurisdiction, Liability, High Court, Revised Return, Province, Copy, Finance, Board Of Revenue, Conditions, Impugned Order, Notices, Retrospective Effect, Commencement, Order, Discretion, Cease, Export, Limited Company, Mistake, Provisional Assessment, Payment, Provisions, Profits, Language, Change, Privy Council, Consent, Proceedings, Appellate Tribunal, Expenditure Incurred Result: Petitions allowed JUDGMENT [The judgment of the court was delivered by Muhammad Haleem, J.]- In Constitutional Petitions Nos. 345/74 and others, 368/74, 371/74, 504/74, 649/74, 650/74, 651/74, 652/74, 654/74, 655/74, 656/674, 657/74, 658/74, 659/74, 660/74, 647, 675/74, 676/74, 691/74, 692/74, 693/74, 699/74, 725/74, 728/74, 729/74 and 730/74, the validity of the Notification dated 14th March, 1974, Issued pursuant to paragraph (b) of sub-clause (i) of clause (11) of Section 2 of the Income Tax Act, 1922, hereinafter referred to as the Act and the Circular No. Co.-Cir. XII/499/1973-74, dated 19th March, 1974, issued thereunder by the Income Tax Officer, Companies Circle XII, Karachi, are impugned. Since identical questions are involved, this judgment will dispose of all the petitions. 2. Petition No. 34511974.-The petitioner, which was incorporated as a private limited company on 5th October, 1971, commenced business of import and export and local sales of rice, cotton, sugar etc., on 18th October, 1971, and adopted under paragraph (c) of sub-clause (/') of clause til) of Section 2 of the Act a calendar year as its "previous year" and submitted its consolidated return of total income of Rs. 5,63,465.00 in July 1973 under Section 22(1) of the…

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