I.T.AS. NOS.749/LB AND 1823/LB OF 1997, DECIDED ON 27TH MAY, 1998. versus I.T.AS. NOS.749/LB AND 1823/LB OF 1997, DECIDED ON 27TH MAY, 1998.
Tax deduction under section 80C, (50 ()), (99 ()) and Third Schedule, R (()) sources, by the leasing company under tax return section (asing (between)) Lease Arrangement Income Tax Ordinance, 1979 Refunds by the Assissee on the basis that the transaction was neither a sale nor a logistics, with the assessment being finalized by the final discharge of the tax liability. Appellate Authority Separated - Because the purchase agreement between the leasing company and the Assisi Wag was not negotiated by definition, the Appellate Tribunal had previously granted the Appellate Authority a valid view He maintained that the deduction was not covered under section 50 (4) of the Ordinance. 80c of the ordinance was not applicable. The Issuing Officer was instructed to return the deduction tax on the sale and leaseback transaction. Release
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