Law: Income Tax Ordinance, 1979

Section: Sched.II,Part111,2(3),14,2(44),49,14(1), 49,2(44)&Sched.II,Part1,

(a) Income-tax Ordinance (XXXI of 1979)----Sched. II, Part 111, Ss. 2 (3) & 14--Word "person" in S. 2 (32)--Meaning-¬Definition of word "person" includes within its fold a "company" also and benefit of Part III of Second Schedule is very much available to the company as well. (b) Income-tax Ordinance (XXXI of 1979)-- ---Sched. II, Part III, CI. (a)--Application and scope. Reading of the word only in clause (a) of para 1 of Part III of Second Schedule of Income Tax Ordinance 1979 is not permissible under any of the Rules of Interpretation of statutes. This clause actually deals with a person who is liable to income-tax and also the super-tax. It does not deal with the case of any person who is liable to pay income-tax only or wealth-tax only. Similarly, this clause does not exclude a person who pays some other type of tax in addition to income-tax and wealth tax. It is true that a company pays super-tax under Part II of First Schedule. However, it also pays income-tax according to, paragraph C of Part I of the First Schedule. Since a company is a person and it pays income-tax and also wealth tax, it is entitled to the benefit provided by Part III of Second Schedule of the Ordinance. It is pertinent to keep in mind that a company has not only to pay income-tax and super-tax under the Ordinance but additional tax and surcharge are also payable under it. It, therefore, cannot be said than since a person is liable to surcharge and. additional tax also, therefor, paragraph 1 of Part III of Second Schedule would not be available to it. Moreover, a person has to pay so many other taxes like excise duty; custom, property taxes, octroi duty etc. etc. Thus, if the argument that since the assessee is a limited company and liable to income-tax and super-tax both, the benefit of clause (a) of Para 1 of Part III of Schedule Second was not available; is accepted then the benefits of Part III could not be available to any person as everyone has to pay some sort of tax other than income-tax which, of course, does not appear to be the intention ' of the legislature for enacting Part III of Second Schedule. (c) Income-tax ordinance (XXXI of 1979)-- ---Sched. I para B, Part IV…

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