| Citation(s) |
|---|
| 2007 SLG 127 2007 SLD 127 2007 PTD 1999 (2007) 96 TAX 203 |
Supreme Court of Pakistan
Civil Appeals Nos. 1819 of 2000, 678 to 683 of 2003, decision dated: 26-04-2006. (On appeal from the judgment, dated 29-4-1999 and 1-11-2000 of the Peshawar High Court, Peshawar passed in Writ Petition No.1404 of 1999, 58, F.A.Os. Nos. 60, 63, 59, 62 and
IFTIKHAR MUHAMMAD CHAUDHRY, C.J., ABDUL HAMEED DOGAR AND SAIYED SAEED ASHHAD, JJ
Muhammad Ilyas Khan, Senior Advocate Supreme Court and Ch. Akhtar Ali, Advocate-on-Record for Appellants (in C.A. No. 1819 of 2000). Malik Muhammad Nawaz, Advocate Supreme Court and Raja Abdul Ghafoor, Advocate-on-Record for Appellants (in C.A. Nos. 678 t
Civil Appeals Nos. 1819 of 2000, 678 to 683 of 2003, decision dated: 26-04-2006. (On appeal from the judgment, dated 29-4-1999 and 1-11-2000 of the Peshawar High Court, Peshawar passed in Writ Petition No.1404 of 1999, 58, F.A.Os. Nos. 60, 63, 59, 62 and
IFTIKHAR MUHAMMAD CHAUDHRY, C.J., ABDUL HAMEED DOGAR AND SAIYED SAEED ASHHAD, JJ
Muhammad Ilyas Khan, Senior Advocate Supreme Court and Ch. Akhtar Ali, Advocate-on-Record for Appellants (in C.A. No. 1819 of 2000). Malik Muhammad Nawaz, Advocate Supreme Court and Raja Abdul Ghafoor, Advocate-on-Record for Appellants (in C.A. Nos. 678 t
FEDERATION OF PAKISTAN through Secretary Finance, Finance Division, Islamabad and others
VS
Messrs ZAMAN COTTON MILLS LTD.
Law: Income Tax Ordinance, 1979
Section: 80,80C,80CC,80D
Law: Protection of Economic Reform Act, 1992
Section: 2(1)(b),6
Income Tax Ordinance (XXXI of 1979)----Ss. 80-CC & 80-D---Protection of Economic Reforms Act (XII of 1992), Ss. 2(1)(b) & 6---Exemption from minimum tax under S.80-C of Income Tax Ordinance, 1979---Entitlement---Establishment of industries in tax exempted area in pursuance of S.R.O. 60(I)/87, dated 20-1-1987---Incentive for investment granted to assessee in pursuance of S.R.O. 1283(I)/90, dated 13-12-1990 as provided in Second Sched. to S.6 of Protection of Economic Reforms Act, 1992---Whether assessee fulfilled conditions of S.R.O. 1283(I)/90 being a question of fact, would be decided by authority concerned while keeping in view provisions of S.2(b) read with Second Sched. to S.6 of Protection of Economic Reforms Act, 1992 read with Ss. 80-CC & 80-D of Income Tax Ordinance, 1979 and observations made by Supreme Court in PLD 1997 SC 582, para. 54. Messrs Elahi Cotton Mills Ltd. and others v. Federation of Pakistan through Secretary M/.O Finance, Islamabad and 6 others PLD 1997 SC 582 rel. ORDER IFTIKHAR MUHAMMAD CHAUDHRY, C.J.---These appeals, by leave of this Court are directed against the judgment, dated 29-4-1999 and 1-1 1-2000 of a learned Division Bench of the Peshawar High Court, Peshawar, whereby following questions were framed:-- (i) Whether on the facts and in the circumstances of the case, the learned ITAT, Peshawar Bench, Peshawar was justified to hold that the exemption under clause 122-C falls under section 6 of the Economic Reforms Act, 1992 and is therefore, protected from tax under section 80-D and 80-CC despite the fact that clause 122-C of the second schedule is not covered by "The Schedule" to section 6 and the notification mentioned in .the schedule to section 6 of the Protection of Economic Reforms Act, 1992. (ii) Whether on the facts and circumstances of the case the L/ITAT was legally justified and right in holding that WWF is not leviable in case of industrial establishment whose income is exempt under Income Tax Ordinance, 1979." 2. Principal controversy in the instant appeals is whether respondent assessees are entitled for exemption from the minimum tax under section 80-D of the Income Tax Ordinance, 1979. In this behalf,…
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