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PUNJAB SMALL INDUSTRIES CORPORATION, LAHORE versus COMMISSIONER OF INCOME-TAX, COMPANIES ZONE, LAHORE

Income Tax Ordinance 1979 Section 2 (24), 15 and Second Schedule, Part I, CL (65) [After Exemption] A constitutional corporation taxable capital receipt case and non-recurring exemption from assessment year 1981 82 to 1983 Providing Income Defense Grants Section 2 (24) in aid of Income Tax Ordinance, 1979 gives only a general idea of the Income Tax Ordinance, a legislative corporation was not such a trade organization nor did it engage itself in business. Which was provided by the provincial government in aid. The corporation will provide promotional services to small and medium-sized merchants and will take care of the losses already incurred and the receipt of the said grant was not associated with any business, the preparation of service activities or the corporation was offered by levy. ? Income tax on such grants in aid is valid; receipts in the form of grants by the corporation were not taxed at the relevant time due to extraordinary and non-refundable principles, even from personal income and taxation of income tax. Are exempt list of supreme court advocates from FR Peshawar / Kohat lawyer