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I.T.A. NO.966/KB OF 1998-99 versus I.T.A. NO.966/KB OF 1998-99

Income Tax Ordinance 1979 Sections 25 (b) and (c) Subsequent deductions in respect of the amount of income received from Assisi, a public limited company, were loaned to financial institutions by the financial institution under certain limitations with its purchase agreements. Assign responsibilities. The Assisi claimed that the liabilities collected were paid for by the issuance of ordinary shares paid to the Assessing Officer by the Financial Institution, however, the treated liabilities were changed to full payment. The first appellate authority granted the examining officer under Section 25 (c) of the Income Tax Ordinance 1979 as ordinary shares as income due to non-payment of financial institution obligations on the basis of collective management between the parties. Turning Accumulated / Financially Completed Compensation to Completely Common Sh However, the financial institutions were paid / deposited with the issuance of the shares, nor were any of the concessions allowed in the return agreement nor any discount in respect of the share price. Was forced to buy back. The issuance of ordinary shares of the Assisi payment to the financial institution was not established for collective arrangements between the parties and that the obligations have been relieved and in the case of payment of the ordinary shares there is no guarantee in the account of the Assisi. And the addition of the facts was ordered to be deleted by the appellate tribunal property advocates from Mangal Sada lawyer