| Citation(s) |
|---|
| 2025 SLG 1475 2025 SLD 1475 |
Appellate Tribunal Inland Revenue, Islamabad
ITA No.127/IB/2025 MA(Stay) No. 628/IB/2025 (Tax Year, 2024)
PRESENT; (M. M. AKRAM) JUDICIAL MEMBER -- (MUHAMMAD NAEEM ASHRAF) MEMBER
Appellant By: Mr. Aamir Javed, FCA Mr. Shariq Tanveer, Advocate
Respondent BY: Mr. Naeem Hassan, DR Date of Hearing- 16.06.2025 Date of Order: 16.06.2025
ITA No.127/IB/2025 MA(Stay) No. 628/IB/2025 (Tax Year, 2024)
PRESENT; (M. M. AKRAM) JUDICIAL MEMBER -- (MUHAMMAD NAEEM ASHRAF) MEMBER
Appellant By: Mr. Aamir Javed, FCA Mr. Shariq Tanveer, Advocate
Respondent BY: Mr. Naeem Hassan, DR Date of Hearing- 16.06.2025 Date of Order: 16.06.2025
Mr. Khairullah Khan; House No. F-151, Street No.07, Phase-II, Officers Colony, Appellant Wah Cantt, Taxila, Rawalpindi. NTN: 3740686300799
VS
Deputy Commissioner Inland Revenue,
Law: Income Tax Ordinance, 2001
Section: 4C, 4B, 9, 10, 2(29),
SUMMARY;
1. Whether super tax under Section 4C of the Income Tax Ordinance, 2001 is applicable
on capital gains arising from the sale of immovable property (plots) where the holding
period exceeds six years?
2. Whether the capital gain on the sale of plots, which is subject to tax at a rate of zero
percent, qualifies as exempt income under the provisions of the Income Tax Ordinance,
2001?