Law: Income Tax Ordinance, 1979

Section: 136,136(2),R.7(b)(I) ofThirdSched.

(a) Income Tax Ordinance (XXXI of 1979)--S.136 (2) & R.7 (b)(I) of Third Sched.---Registration Act (XVI of 1908), Ss. 17 & 49---Reference to High Court---Maintainability---Factual controversy---Slump sale---Proof---Unregistered agreement to sell---Assessee claimed exemption on the basis of slump sale---Income - tax authorities declined to give any exemption on the ground that the assessee relied upon unregistered agreement to sell---Validity---Two documents purportedly .executed between assessee and vendors, at the best, could have been taken into consideration together and no conclusive transaction of slump sale could be accepted on the basis of such agreements, to accommodate the assessee to evade payment of income tax on that premises---By virtue of S.17 read with S.49 of Registration Act, 1908, no right, title or interest could be conveyed in favour of vendee without execution of registered deed in respect of immovable property forming part of such transaction---On the strength of alleged agreement, assessee had acquired no title in the assets---High Court agreed with the conclusion recorded by Income Tax Appellate Tribunal---Findings recorded by Income Tax Appellate Tribunal that there was no slump sale in favour of assessee was a question of fact, which was not referable for opinion of High Court under S.136 (2) of Income Tax Ordinance, 1979---Reference was dismissed in circumstances. Messrs Hotel Metropole Ltd. v. The Commissioner of Income-tax (Central), Karachi 1973 PTD 371; Alapati Venkataramiah v. Commissioner of Income Tax, Hyrabad, 1965 Vol. 57 ITR 185 and Commission of Income Tax (East) v. Messrs Crescent Pak Soap and oil Mills Ltd. 1985 PTD 3 ref. (b) Interpretation of statutes--- ----Fiscal matters---Function of Court---Scope---Function of Court is not to render operation of a statute redundant or interpret it in a manner, which may lead to evasion of tax. ORDER ANWAR ZAHEER JAMALI, J.---By this reference application under section 136(2) of the Income Tax Ordinance, 1979 following questions have been proposed by the applicant/assessee for the opinion of this Court:-- "(1) Whether on the facts and in the circumstances of the case, the…

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