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I.T.A. NO.832/LB/D13 OF 1992-93, DECIDED ON 21ST APRIL, 1998. versus I.T.A. NO.832/LB/D13 OF 1992-93, DECIDED ON 21ST APRIL, 1998.


Income Tax Ordinance 1979 Section 80C, Second Schedule, Part IV, CL (9) and Sections 55 and 143B Pyramid Tax Regime Assissee submitted the Income Tax Statement under section 55 of the Income Tax Ordinance 1979 without tax Opt out was announced. The Regiment Assessing Officer assessed the income of the Assisi under the speculative tax regime and it was confirmed by the appellate authority earlier that instead of filing a statement on the matter, the Assessment filed a return on Form IT-11 to the general government. Had chosen to receive tax under. Section 143B of the Income Tax Ordinance 1979, which is merely a formal return form submission, and not a statement under Section 143B, Income Tax Ordinance, 1979, does not mean that the Assisi opted for the end of the text regime What was An irreversible option to exempt from the tax system

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