SHAHABAL KHAN versus COMMISSIONER OF INCOME TAX/WEALTH TAX, ZONE-I, LAHORE
Sections 5 (xv) (ii) and the 27 High Court of Appeal of the Exempt Appellant, who had been an individual for three appraisal years, declared certain immovable assets, part of which was the disclosure of the Foreign Exchange Beer Certificate. Was born from The waiver was claimed in connection with the provisions of section 5 (xv) (ii) of the Wealth Tax Act, 1963. The siting officer denied the claim and the First Appellate Authority stated that the refusal of the refusal order was non-binding. No change or disclosure in the domestic exchange beer certificate, whether in the form of Pakistani rupees or any property, both fixed or immovable in the local currency, was not presently entitled to exempt the foreign exchange beer certificate, neither from abroad. Was neither brought nor received nor produced directly by the SC / Appellant. A. Of the remittances received in Pakistan through ordinary banking channels, the legality was merely a certificate and not a cash equivalent of Pakistani currency, which was entitled to appeal against the consolidation decisions of the forums below, Rejected
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