| Citation(s) |
|---|
| 2025 SLG 4516 2025 SLD 4516 = 2025 PTD 1410 |
C.P. No. D-713 of 2024 (and other connected Petitions), decided on 20th February, 2025.
Before Agha Faisal and Abdul Mubeen Lakho, JJ
Muhammad Farogh Naseem, Khalid Jawed Khan, Qazi Umair Ali, Lubna Pervez, Mariam Salahuddin, Shahrukh Farogh Naseem, Sagar Ladhani, Abdul Rehman Adeed, Saima Anjum, Pooja Kalpana, M. Umer Akhund, Uzair Qadir Shoro, Syed Muhammad Aijaz and Muhammad Imran Khan for Petitioners. Shahzaib Masud, Ahmed Mujtaba and Saqib Soomro for the Federal Board of Revenue. Zia-ul-Haq Makhdoom and Mirza Nasar Ahmed, Additional Attorney General for
Respondents. Kashif Nazeer and Alizeh Bashir, Assistant Attorney Generals for
Respondents. Dates of hearing: 18th and 20th February, 2025.
NATIONAL BANK OF PAKISTAN through Authorized Attorney
VERSUS
FEDERATION OF PAKISTAN through Secretary, Ministry of Finance, Islamabad and 2 others (And connected matters, particularized in the Schedule1 hereto.)
Law: Income Tax Ordinance, 2001
Section: 99D, Notification SRO 1588(I) of 2023
Law: Constitution of Pakistan, 1973
Section: 77, 260
(a) Constitution of Pakistan---
----Arts. 77, 260 & Fourth Schedule, Federal Legislative List Serial Nos. 47 & 48--Tax, imposing of---Scope---Tax on income defined in Art. 260 of the Constitution includes a tax in the nature of an excess profits tax or a business profits tax etc.--Fourth Schedule to the Constitution enumerated Federal Legislative List and Entries 47 and 48 thereof befall the taxes on income and on corporations squarely within the exclusive domain of Federal Parliament---Tax to be levied, under Art. 77 of the Constitution is required to be levied for the purposes of Federation by or under the authority of an Act of Parliament---Constitution specifically empowers the Parliament to levy a tax on excess profits upon corporations by or under the authority of sub-Constitutional legislation.