Law: Income Tax Act, 1922

Section: 9,10,2(6C)

Income tax Act (XI of 1922)--Ss. 9, 10 & 2(6 C) Constitution of Pakistan (1962) Sched. III, item 42(c) Word "income", meaning of Terms given in Schedule to Constitution to be construed in broadest sense of terms Income from property Bona fide annual value of property consisting of building or lands appertenant thereto which assesses was owner other than what is occupied for his business or profession, the profits of which were changeable to income tax under S. 10 No exhaustive definition of word "income" having been provided in S. 2(6 c), definition was inclusive Notional letting value, could, therefore, be an income as in the case of self occupied house. The word 'income' mentioned under Item 42(c) of Schedule III to the Constitution of Pakistan (1962), should be construed in the broadest sense of the term. In fact, none of the items in the Schedule is to be given a narrow or restricted meaning and that each general word should be taken to extend to all ancilliary or subsidiary matters which can fairly and reasonably be said to be comprehended in it unless the context warrants otherwise. Giving the widest possible construction to the words 'income' occurring in an entry in the legislative head conferring legislative powers, means and include, so as to have effect in its widest amplitude, notional income, or, artificial income, statutory income or, implied income as against the actual income, one has to be mindful of the words occurring in section 9 of the Act that the tax is payable by an assessee under the head 'income from property' in respect of the bona fide annual value of the property consisting of building or lands appertenant thereto of which he is the owner. The word 'bona fide', as used in section 9, denotes something, which may not be 'actual'. The word 'income', therefore, under section 9 may mean what would generally be not treated as income. The assessee is taxed under section 9 of the income Tax Act on the basis of the bona fide letting value of the property consisting of buildings or lands appertenant thereto of which the assessee is the owner, other than what is occupied for his business or profession, the profits of which are chargeable…

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