Law:

Section:

Foreign Exchange Repatriation Regulation, 1972 [M.L.R 104]----Foreign Assets (Declaration) Regulation, 1972 [M. L.R. 105)-Amount repatriated and declared under M.L.Rs.104 & 105 not being revenue but capital remittance was not liable to tax. Commissioner of Income-tax v. Mst. Marian Bai Ahmed I.T.C.37/79; Commissioner of Income-tax v. Mustafa Gokal I.T.C. 21/79 and Commissioner of Income -tax v. Mst. Khatoon Bai I.T.C. No.74 of 1979 fol. JUDGMENT SALEEM AKHTAR, J.--The respondent is an individual who was drawing income from various sources including dividends and interest. During assessment year 1973-74 the respondent declared as casual income certain foreign remittances under M.L.Rs.104 and 105. These amounts were repatriated after 31st March, 1972. The Income Tax Officer, therefore, included them in the total income of the respondent as according to him the exemption could be granted if the remittances were made into Pakistan on or before 31st March, 1972. The Appellate Assistant Commissioner also upheld the said order. The respondent challenged that order before the Tribunal and it was held that the said amount was not chargeable to tax in Pakistan as the repatriated amount did not have the character of income liable to be assessed under the Income Tax Act. The Tribunal discussed the facts of the case minutely as under. "We, therefore, think that the receipts not being taxable in character could not be included, in the total income of the assessee and so we delete the amount included in the assessee's income." The department filed…

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