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COMMISSIONER OF INCOME-TAX AND WEALTH TAX; SIALKOT ZONE, SIALKOT versus MESSRS GLORIOUS MERCANTILE CORPORATION (PVT.), LTD., SIALKOT

Sections 30, 136 and 156 of the High Court Export Waiver on Interest Income have been appealed by the Department of Revenue / Department claiming that the common law question was justified in the facts and circumstances of the Income Tax Appellate Tribunal. To uphold the Commissioner's Income Tax (appeal) decision that the Export Waiver allowed the company to assess interest income on TDR, while interest income on TDR was assessable under section 30 of the Income Tax Ordinance. , Which was income through 1979 and related to export business income, was neither considered nor relied on to allow export exemption on interest income received in TDR. Appellate Tribunal's Bench of Appellate Tribunal questions whether to allow interest payments on debt capital to be limited to adjustments Ylt order discounts export interest income by the tribunal never was, the High Court refused to refuse to consider the questions and answers Ltd tain passionate question Appellate \ not born of the tribunal r \ n \ r \ n registration advocate from Kallat lawyer