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I.T.A. NO.1770/KB OF 1996-97, DECIDED ON 6TH JUNE, 2002. versus I.T.A. NO.1770/KB OF 1996-97, DECIDED ON 6TH JUNE, 2002.

The Income Tax Ordinance 1979 Sections 80B (1), 2 (20) (E) and 50 (6A) were the share of the taxpayer's source of tax on the income of dividends and income from bank profits, along with the Assistant Director. Assisi, a Private Limited Company Borrowed from the Company The Assigning Officer requested the provisions of Section 2 (20) (e) of the Income Tax Ordinance 1979, and after deducting the profit accrued from such loan, the same as the profit. Treated, which increased revenue. The Assisi First Appellate Authority has confirmed the application of Section 2 (20) (e) of the Income Tax Ordinance 1979 but directed the Assessing Officer to consider this income as a separate block under Section 80B of the Income Tax Ordinance, 1979. Of The meaning of the profits of the words given in Section 50 (6A) of the Income Tax Ordinance 1979 as well as Section 2 (20) (e) of the Income Tax Ordinance 1979, has shown that payment of any amount by a private company Debt profits are defined in advance or by the shareholders and thus attract the provisions of section 50 (6A) of the Income Tax Ordinance 1979. Any payment by a private company through a loan is received by its shareholders to that extent. Tax exemption was obtained under section 50 (6A) of the Income Tax Ordinance 1979, which would be held liable for deduction of tax returns and tax returns. The appellate authority was upheld by the appellate tribunal and the department's appeal was dismissed. top advocates from More kunda lawyer