Law: Income Tax Act, 1922

Section: 10,10(2)(vii)

(a) Income-tax Act (XI of 1922)----S. 10(2)(vii), proviso (ii) [as substituted by Finance Act (I of 1962), S-61--­ Object and interpretation of S.10(2)(vii), proviso (ii) [as amended] --- Assessee had not carried on any business in the relevant accounting year during which the building machinery etc. or the factory was sold by it --- Surplus mentioned in S.10(2)(ii), proviso (ii) (as amended) was thus not eligible to tax in circumstances. Commissioner of Income-tax v. Messrs West Punjab Factories Limited Okara PLD 1966 Lah. 236 not approved. Liquidators of Pursa Limited v. Commissioner of Income-tax, Bihar 1954, 25 ITR 265; Commissioner Income-tax v. Messrs West Punjab Factories Ltd., Okara PLD 1966 Lah. 236; Commissioner of Income-tax v. Phillips Holzman A.G. Ameejee Valeejee & Sons 1968 PTD 73; Income-tax Commissioner v. Ajax Products AIR 1965 SC 1358; 18 TC 67; Messrs Hirjina & Company (Pakistan) Ltd. Karachi v. Commissioner of Sales Tax Central, Karachi 1971 SCMR 128; Collector of Customs (Appraisement) Karachi and others v. Messrs Abdul Majeed Khan and others 1977 SCMR 371 and The Cape Brandy Syndicate v. The Commissioner of Inland Revenue (1921) 1 KB 64 - 12 T C 358 ref. (b) Interpretation of statutes---- ---- Taxing statute --- Court, while interpreting taxing statute, must look to the words of the statute and interpret it in the light of what is clearly expressed--Court cannot imply anything which is not expressed, nor can it import provisions in the statute so as to support assumed deficiency. Messrs Hirjina & Company (Pakistan) Ltd., Karachi v. Commissioner of Sales Tax Central, Karachi 1971 SCMR 128; Collector of Customs (Appraisement), Karachi and others v. Messrs Abdul Majeed Khan and others 1977 SCMR 371 and The Cape Brandy Syndicate v. The Commissioner of Inland Revenue (1921) 1 KB 64 - 12 Tax Cas. 358 ref. ORDER NAIMUDDIN, J.---The facts relevant to these appeals are as follows ;­ 2. Supreme Court Appeal No.1 of 1968, which was re-numbered as Civil Appeal No.12-K of 1985, is a certificated appeal. The Certificate was issued under section 66-A (2) of the Income Tax Act, 1922 read with section 109(c) and Order 45, Rule 3 of the Civil…

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