MESSRS INDUS STEEL PIPES LIMITED versus COMMISSIONER OF INCOME-TAX, COMPANIES=II, KARACHI AND OTHERS
The first schedule of Income Tax Ordinance 1979, Part IV, Parab (2) was a Public Limited Company incorporated under the Ordinance of Companies Assessment of Public Limited Company Status Assessment; Fifty percent of the 1984 Assisi Company was owned by Pakistan Industrial / Thea Development Corporation, a corporation formed by the Associate Company, was claimed as a public company by the corporation that owned 50% of the shares owned and controlled by the Government of Pakistan. On this basis, the Assisi Company claims that partially holding the corporation's shares will not make the Assisi company a state-owned company which has been verified by examining various aspects of the corporation's status, both below the Validity Appellate Tribunal. The authorities did. Appreciating the government, the High Court observed that shares held to the extent of 5% of the corporation cannot be held by the corporation at 0% by the government of Pakistan as the public company is considered in the definition of the company, therefore, it No public company can be ranked but it can only be granted status. Under the circumstances of the private company
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