GOVERNMENT EMPLOYEES COOPERATIVE SOCIETY, LAHORE versus INCOME-TAX OFFICER, CIRCLE-07, LAHORE
Section 31 (1) (b) refuses to estimate such deduction for interest income from the bank, deducting deductions for costs over such income, although in its initial decisions it has A flat rate deduction of 10% was allowed for other cooperative housing societies. (1) The (Income) Income Tax Ordinance, 1979 did not permit the deduction of expenses from income received from other sources, nor did the section allow the deduction of expenses, unless it was specifically for the claim. But would not have separated. Assisi's claim of interest income was neither claimed by the surety nor justified interest income from bank deposits on any amount earned, generation, management and administration expenses which The reasons were given. Referring to the High Court in its affirmative response to withdraw from its earlier decisions
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