Law: Income Tax Ordinance, 1979

Section: 80,80C,136,SecondSched,Cl-86

(a) Income Tax Ordinance (XXXI of 1979)].....S.136 & Second Sched., Part I, Cl. (86) Reference to High Court---Assessee, a company limited by guarantee, was running flying club -Income from subscriptions and entrance fee to such club Exemption claimed by the assessee under Cl. (86) of Part 1 of the Second Schedule of the Income Tax Ordinance, 1979, being an educational institution, was allowed by the Appellate Tribunal Question of law put by the Department that "whether Appellate Tribunal was justified to treat the assessee company as an educational institution for the purpose of clause (86) Part I of the Second Schedule to the Income Tax Ordinance, 1979 was referred to High Court by the Appellate Tribunal. (b) Income Tax Ordinance (XXXI of 1979) -- Ss. 136 & 80 C Reference to High Court Appellate Tribunal held that spare parts imported for use in the repair and maintenance of own aircraft of Flying Club was exempt from the provisions of S.80 C of the Income Tax Ordinance, 1979 being not marketed onward Section 80 C of the Income Tax Ordinance, 1979 provided for the exclusion of raw material imported by an industrial undertaking for own consumption from the purview of said section but no specific mention had been made of spare parts Question of law put by the Department that "Whether Appellate Tribunal was justified to hold that the provisions of section 80C are not applicable to imports of spare parts made by the assessee was referred to High Court by the Appellate Tribunal in circumstances. (2001) 83 Tax 63; PLD 1962 (W.P.) Kar. 635; 1996 PTD 1192; 2003 PTD 589 and 76 Tax 118 ref. ORDER INAM ELLAHI SHEIKH (CHAIRMAN).--------This reference application has been filed by the Commissioner of Income/Wealth Tax, Companies Zone, Islamabad, requiring us to refer to the Hon'ble High Court, the following questions said to be questions of law arising out of the Tribunal's order, dated 5 8 2003 recorded in I.T.A. No. 813/IB of 2003 in the case of a, Flying Club which is run by a company limited by guarantee: (i) "Whether on the facts and in the circumstances of the case the ITAT was justified to treat the assessee company as an educational institution for the…

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