Law: Income Tax Ordinance, 1979

Section: 26(a)FourthSched.,R.5(a)(b),134

Law: Constitution of Pakistan, 1973

Section: 25,189

(a) Income Tax Ordinance (XXXI of 1979)----S. 26(a) & Fourth Sched., R.5(a)(b)---Assessee, an insurance company doing business of insurance other than life insurance---Interest accrued to assessee on Khas Deposit Certificate /and Defence Saving Certificates disclosed in annual account being part of its profits and gains was not exempted.M/s. Central Insurance Company and another v. The Central Board of Revenue and others (1993) SCMR 1232 = 1993 PTD 766; CIT, Bombay v. New India Assurance Company Limited (1969) 71 ITR 761; Lakshami Insurance Company Limited v. CIT, New Delhi (1969) 72 ITR 474; Lakshami Insurance Company Limited, Lahore v. CIT, Punjab, Delhi and N.-W.F.P. Provinces, Lahore AIR 1950 Lah. 234; CIT v. National Insurance Company Ltd. (1986) 159 ITR 314; CIT, Karachi v. Alpha Insurance Company Limited and another PLD 1981 SC 293; M/s. Habib Insurance Company Ltd. v. CIT, (Central), Karachi PLD 1985 SC 109; CIT (Central), Zone-A, Karachi v. Phoenix Assurance Company Limited 1991 PTD 1028 and CIT, Karachi v. M/s. Queensland Insurance Company Limited, Karachi 1992 SCMR 539 ref.(b) Constitution of Pakistan (1973)-------Art. 25---Equal protection---Guarantee of equal protection applies against substantive as well as procedural laws more particularly these which are not formal in nature but substantially prejudicial to parties in establishing their rights or in defending against unjust claims.Lachhuman Das v. State of Punjab AIR 1963 SC 222 and State of Andhra Pradesh v. Raja Reddy AIR 1967 SC 1458 ref.(c) Constitution of Pakistan (1973)-------Art. 25---Equal protection---Doctrine of classification discussed.Constitution of Islamic Republic of Pakistan by Muhammad, Munir, 1975 Edn quoted.(d) Income Tax Ordinance (XXXI of 1979)-------(26 & Fourth Sched.---Constitution of Pakistan (1973), Art.25---Equal protection---Mere fact that some provisions in a statute did operate adversely to an assessee cannot be held to be violative of the equal protection.(e) Income Tax Ordinance (XXXI of 1979)-------S. 134---Constitution of Pakistan (1973), Art.189---Appeal to Appellate Tribunal---Appellate Tribunal cannot declare a piece of legislation to be violative-of…