I.T.A. NO.2097/LB OF 2002, DECIDED ON 28TH FEBRUARY, 2004. versus I.T.A. NO.2097/LB OF 2002, DECIDED ON 28TH FEBRUARY, 2004.
Sections 12 (9A) and 66A are considered as income or acquisitions accruing in Pakistan, with the purpose of issuing bonus shares to shareholders in the past year, the bonus dividends accumulated, which issued bonus shares to shareholders. Was. Neither it was a premium reserve nor any other reserve required to be constituted under any law, rule or regulation, assuming that the bonus stock reserves were capital reserves and deposits for the purposes of section 12 (9A). Should be excluded from the amount of ) Income tax ordinance, 1979 was not valid The Inspector Additional Commissioner was allowed to include such reserve with other reserves for the purpose of section 12 (9A) of the Income Tax Ordinance, 1979, subject to the inspecting additional commissioner. The tax assessment was retained by the appellate tribunal under section 12 (9A) of the Income Tax Ordinance, 1979, for the Reserve.
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