Law: Income Tax Ordinance, 1979

Section: Sched.II,PartI,para.122D

Law: Protection of Economic Reform Act, 1992

Section: 6

Law: Constitution of Pakistan, 1973

Section: 199

(a) Protection of Economic Reforms Act (XII of 1992)---Preamble---Protection to economic measure---Scope---Perusal of various provisions of Protection of Economic Reforms Act, 1992, make it clear that it provides protection to the various economic measures taken, on or after 7-11-1990. (b) Interpretation of statutes--- ----Preamble---Function---Preamble can validly be referred to in case of doubt about interpretation of statutory provision. (c) Income Tax Ordinance (XXXI of 1979)---Sched. II, Part I, para. 122-D---Protection of Economic Reforms Act (XII of 1992), S.6---Constitution of Pakistan (1973), Art.199---Constitutional petition---Protection of economic measures---Mentioning of two notifications in the Schedule appended with Protection of Economic Reforms Act, 1992---Effect---Specifically mentioning of two notifications in the Schedule made it obvious that what S.6 of Protection of Economic Reforms Act, 1992, said was the measures taken by the Government after 5-11-1990 and the same was the date on. which the then Government came into power---Exemption granted by para. 122-D of Part I of Second Sched. to Income Tax Ordinance, 1979, had no protection of the Protection of Economic Reforms Act, 1992. Messrs Elahi Cotton Mills Ltd. and others v. Federation of Pakistan and others PLD 1997 SC 582 ref. JUDGMENT This petition under Article 199 of the Constitution of Islamic Republic of Pakistan, 1973 has been filed by M/s. Zahur Textile Mills Ltd., a company incorporated under the Companies Ordinance, 1984 against the Central Board of Revenue and two other officers of the Income-tax Department. 2. The dispute between the parties primarily revolves around the interpretation of section 6 of the Protection of Economic Reforms Act, 1992 (hereinafter referred to as Act, 1992). 3. The circumstances in which this dispute has arisen, briefly stated, are that the petitioner is carrying on business of textiles and its income was exempt from the payment of income-tax under clause 122 of the Part 1 of the Second Schedule to the Income Tax Ordinance, 1979, for a period of five years. This provision was however deleted on 1-11-1993. The dispute is therefore confined to the…

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