Law: Income Tax Ordinance, 1979

Section: 23,62,66A,SecondSched.,Cl.(86)

(a) Income Tax Ordinance (XXXI of 1979)----Second Sched., Cl. (86)---Exemption---Educational institution---Grant of exemption---Principle---Criteria for granting exemption to the educational institution is that the same must be established solely for the purpose of educational purpose and not for any other purpose---Predominant object of the educational society has to be looked into before granting exemption---If predominant object is educational and not earning profit then exemption is granted to the educational institutions---No other condition is provided in Cl. (86) of the Second Schedule of the Income Tax Ordinance, 1979. (b) Income Tax Ordinance (XXXI of 1979)----- ----S. 23---Second Sched., Cl. (86)---Deductions---Exemption--Educational institution---Grant of exemption---Expenses distributed to staff/teaching staff---Permissibility--- Not only salaries but also petrol, lubricant for vehicles entertainment, repair and maintenance of vehicles can be distributed to the staff and other teaching staff who were engaged in imparting education and were functioning wholly and exclusively for society's work. I.T.As. Nos. 177 to 184/KB of 1990-91 rel. (c) Income Tax Ordinance (XXXI of 1979)--- ----S. 66-A---Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order---Examination of accounts---Judicious conclusion by the Assessing Officer could not be termed as "erroneous"---Where the Assessing Officer had applied his mind while making the assessment or granting the exemption after examining the accounts and arrived at a judicious conclusion, such a conclusion could not be termed as erroneous because the Assessing Officer had exercised the quasi-judicial powers vested in him. (d) Income Tax Ordinance (XXXI of 1979)--- ----S. 66-A---Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order---Quality of assessment---Mere poor quality of an assessment would not provide justification for invocation of jurisdiction under S.66-A of the Income Tax Ordinance, 1979. (e) Income Tax Ordinance (XXXI of 1979)--- ----S. 66-A---Powers of Inspecting Additional Commissioner to revise Deputy Commissioner's order---Condition for…

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