Law: Income Tax Ordinance, 1979

Section: 107,10,59(1),156,ThirdSched.,Item.5(1)(c )

(a) Income Tax Ordinance (XXXI of 1979) ------S. 10---Income-tax and super-tax payable by the assessee-company has to be treated as income retained for the purpose of levy of surcharge. (b) Income Tax Ordinance (XXXI of 1979)--- ----S. 107---Plant and machinery---Installation charges, held, were not included in cost of plant and machinery unless such concession was given by the Central Board of Revenue. 1987 PTD 116 fol. (c) Income Tax Ordinance (XXXI of 1979)--- ----Ss. 59(1) & 156---Interest---Assessee had not filed any appeal against the disallowance of interest under S.59(1) and thus disallowance gained finality which could not be challenged on the pretext of an order under S.156. (d) Income Tax Ordinance (XXXI of 1979)--- ----S.107 & Third Sched., Item. 5(1)(c)---Income Tax Rules, 1982, R.48(2)(a)(i)--¬Tax rebate--Plant and machinery" as defined in R.48(2)(a)(i), Income Tax Rules, 1922 indicates that such plant and machinery has to be directly connected with the actual production Of goods or execution of the main business and does not appear to be meant for a fork lift truck or any other truck which is meant for transporting the, goods from one point to another point either within the factory premises or outside. Although the legislature has used the term installed in Rule 5(1) of the Third Schedule of the Ordinance the scope appears to have been further enhanced by the mention of ships or motor vehicles in Clause (c) of the same sub-rule. Thus, the provisions of Rule 5(1) (c) of the Third Schedule are distinguished from those of the provisions of section 107 of the Ordinance. The definition of plant and machinery given in rule 48(2) of the Rules appears to be indicative that such plant and machinery has to be directly connected with the actual production of goods or execution of the main business such as construction of roads and dams etc. and it does not appear tot meant for a fork lift truck or any other truck which is meant for transporting the goods from one point to another point either within the factory premises-or outside. Rule 48(2) while giving a meaning of the term plant and machinery includes such non-fixed or non-installed apparatus…

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