Law: West Pakistan Finance Act, (IX of 1963)

Section: 16

Law: West Pakistan General Clauses Act, (IV of 1956)

Section: 4

Law: Constitution of Pakistan, 1973

Section: 199

[West Pakistan Finance Act (IX of 1963)].......S 16---Constitution of Pakistan (1973), Art.l99---Capital Gains Tax, levy of--­Constitutional jurisdiction---Time limitation---Impugned order of Director ­General Excise and Taxation was passed on 23-4-1985 and Constitutional petition was preferred on 4-11-1985, that is, within around six months of the order impugned in the proceedings which, by practice, as evolved, was the approximate period of time, within parimeter the whereof, Constitutional remedies should normally be resorted to.--[Limitation]. (b) West Pakistan Finance Act (IX of 1963)-- ----S.16---West Pakistan General Clauses Act (VI of 1956), S.4---Repeal of law--­Determination of rights and obligations of the parties---Basis. Capital Gains Tax was introduced through the West Pakistan Finance Act, 1963 and resulted upon section 16 of that Act. Such taxation measure has since been repealed and the element of revenue thus lost seems to have been covered by enhanced stamp duty on transfers etc. Still the rights and obligations of the parties under section 4 of the West Pakistan General Clauses Act, 1956 are to be determined on the basis of the law, as it prevailed at the time of transaction and passing of incidental orders, for such transactions are governed by the substantive law, as in force at the time the same were concluded and, pending proceedings while substantive law undergoes repeal or amendment, are to be decided, in accordance with the un-repealed or unamended law, as those proceedings, carry their own law, until brought to conclusion under such law. (c) Company- ---- Partnership firm---Liabilities of directors of a company and partners of a partnership firm---Distinction. (d) Company- ---- While a company, by fiction of law, is a juristic person and an entity, in appropriate cases, in order to assess its true import and character, the veil of incorporation can be lifted. Bacus S. R. L. v. S. Service National Del Trigo (1953) 1 OB 438; Commissioner of Income Tax v. E.V. Miller PLD 1959 SC 219; President v. Mr. Justice Shaukat Ali PLD 1971 SC 585; West Pakistan Road Transport Board v. The Commissioner of Income Tax PLD 1974 Note 9 at p. 39; Sindh…

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