Law:

Section:

(a) Income Tax Ordinance (XLIX of 2001)--- ----Ss. 133(4) & 221---Income Tax Ordinance (XXXI of 1979), S.156---Workers' Welfare Fund Ordinance (XXXVI of 1971), S.2(f)(vi)---Demand of workers' welfare fund from a company majority shares whereof owned by government---Applicant claimed exemption from such fund for its being falling within exclusionary clause of S.2(f)(iv) of Workers' Welfare Fund Ordinance, 1971---Rectification application against of Tribunal found by majority decision to be maintainable---Validity---Revenue had not challenged impugned order by filing reference before High Court---High Court in advisory jurisdiction under S.133(4) of Income Tax Ordinance, 2001 could not disturb impugned order. (b) Workers' Welfare Fund Ordinance (XXXVI of 1971)--- ----Ss. 2(f)(vi), 4 & 5---Income Tax Ordinance (XLIX of 2001), S.133---Reference to High Court---Demand of workers' welfare fund from a company---Company claimed exemption from levy of such fund for 93% shares thereof being owned by Government---Rejection of such claim by Appellate Tribunal on the ground that assessee-company for not being owned by a corporation, in which majority of shares were held by government, was not entitled to exemption---Validity---Where government owned majority shares of a company through its fully owned statutory corporation, such company could not be deemed to have fulfilled requirements of a public company as basic qualification of which was the holding of more than 50% shares thereof by government--Word "or" used between word "concern" and "establishment" in S.2(f)(vi) of Workers' Welfare Fund Ordinance, 1971 was in disjunctive sense---Term "corporation" would include a "company"---If a concern or establishment was owned by a corporation, majority shares whereof were held by Government, then such establishment would be entitled to exemption from levy of such fund---Income of assessee-company as an oilfield industrial establishment though chargeable to such funds under S.4 of Workers' Welfare Fund Ordinance, 1971, but would be exempt from such levy on account of its 93% shares being owned by government---High Court answered reference in favour of applicant and…

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