Law: Income Tax Act, 1922

Section: 24,24(2)(f),(ii)

[Income Tax Act, 1922 (XI of 1922)]......section 24(2)(f), (ii) (after amendment by Finance Ordinance, 1970) -Loss- Set of carried forward loss-Assessee partner of a registered firm and carried on business individually also-Loss in partnership business and profits in individual business-Whether assessee entitled to set of apportioned carried forward loss in partnership business against profits in individual business-Held yes-Words in any other business", "such business", meaning of. B. Statutes-Interpretation of--Amendment of the provisions of the Act-Meaning of the words used in the amending Act Whether should be considered in the light of history of the legislature and the .state of law at the lime the statute was passed to consider whether the statute was intended to alter the law or to leave it exactly where it stood before. Cases referred to :- . Rais Pir Ahmad Khan v. Commissioner of Income Tax, Lahore Zone, Lahore (1975 P.TD. 70)=(1975) 32 Taxation 22; Sitaram Motiram Jain v. Commissioner of Income Tax (1961) 43 I.T.R. 405; Wallem &Co. (Pak ) Ltd. Karachi v. Commissioner of Income Tax (1974) P,T.D. 207)= (1974) 30 Taxation 34 ; Pherozali v. Commissioner of income Tax (West) P. Karachi (PLD 1978 Kar, 765)=(1979) 40 Taxation [09 and Abdul Aziz and another v. Muhammad Ibrahim (P.L.D. 1977 SC 442). ORDER (The judgment of the Court was delivered by I. MAHMUD, J ]-This is a reference under Section 66(1) of the Income Tax Act, 1922 by the Income Tax Appellate tribunal (Karachi Bench), Karachi at the instance of the applicant Messrs Sainrapt Et. Brice, Karachi, whereby the following common question of law said to arise from the Tribunals consolidated order dated 16 6-1967 has been referred for opinion of the High Court in respect of the charge years 196263, 1963 64 and 1965-66:- "Whether in the facts and circumstances of the case assessee Sainrapt Et. Brice are entitled in law against profits in assessment year 1962-63, 1963-64 and 19 5-66 of their business of Civil Engineers and Contractors carried on by them individually in their name to set off their apportioned carried forward share of their loss in their same business carried on by them up to assessment…

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