Law: Income Tax Ordinance, 1979

Section: 13,13(1)

Income Tax Ordinance (XXXI of 1979)---S. 13(1)---Reference to High Court---Question whether Tribunal was right in holding that the taxes payable could be termed as levy of surcharge was answered in the affirmative. Commissioner of Income-tax v. Messrs Habib Sugar Mills Ltd. PLD 1993 SC 257 rel. ORDER NASEEM SIKANDAR, J.---The Lahore Bench of the Income Tax Appellate Tribunal has referred the following question for our consideration and reply:-- Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the taxes payable can be termed as levy of surcharge? 2. The Income Tax Officer calculated surcharge on the profits worked out after deducting the dividend distribution i.e. on the taxes worked out leviable on the amount retained by the Company. The contention of the appellant that surcharge should be worked out on the basis of un-retained income was not granted. The First Appellate Authority maintained the treatment meted out to the assessee and attempted to distinguish the case from the earlier view…

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