| Citation(s) |
|---|
| 1989 SLG 124 1989 SLD 124 1989 PTD 829 |
Sindh High Court
Income-tax Reference No.70 of 1979, decision dated: 18-01-1989
AJMAL MIAN, C, J. AND ABDUL RAHIM KAZI, JJ
Shaikh Haider for Applicant. Nemo for
Respondent
Income-tax Reference No.70 of 1979, decision dated: 18-01-1989
AJMAL MIAN, C, J. AND ABDUL RAHIM KAZI, JJ
Shaikh Haider for Applicant. Nemo for
Respondent
COMMISSIONER OF Income Tax CENTRAL ZONE B KARACH
VS
YOUSUF H.R. DADA
Law: Income Tax Act, 1922
Section: 10(2)(vii)
Income-tax Act (XI of 1922)----S. 10 (2) (vii) C.B.R. Circular No.11 of 1972 dated 28-11-1972--Loss of shares of a company registered in East Pakistan (Now Bangladesh) is a capital loss. JUDGMENT AJMAL MIAN, C. J.--By this reference under section 66 (2) of the Income Tax Act 1922 (hereinafter referred to a the Act), the opinion of this Court has been sought on the following question:- "Whether, on the facts and in the circumstances of the case, the learned Tribunal was justified in holding that a sum of Rs.38,125 being cost of shares of a company registered in East Pakistan (now Bangladesh) should be treated as capital loss and…
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