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I.T.AS. NOS.762/LB, 763/LB OF 2002, 2457/LB AND 2458/LB OF 2004, DECIDED ON 15TH JUNE, 2005. versus I.T.AS. NOS.762/LB, 763/LB OF 2002, 2457/LB AND 2458/LB OF 2004, DECIDED ON 15TH JUNE, 2005.


Section 34, 30, Second Schedule, CLS (118D) and (99) were receiving exemption benefit under the CL 118D of Schedule II of the Income Tax Ordinance for loss, 1979 Nil revenue estimated. But it is estimated that the officer considered the second income as taxable under section 30 of the Income Tax Ordinance 1979 and accordingly it was calculated and the total income was not counted against the exempted income, which was exempt. Earnings may be included if the income from the exemption was positive or the negative calculation does not investigate the trading results of the valuation officer during the exemption / loss calculation. Raska and if he is satisfied that the exemption income or loss is from an exempt source, he will have to accept the declared version of the exemption income / loss. If there was no other income, including tax deductions, the declared exemption income / loss would be calculated as total income. If there was other income, it was taxable tax only then it was to be included in the exemption income. And total income was to be calculated from the exempt and non-exempt sources, however, taxable income was to be taxed only when taxable income from other sources and taxable income in 1979 according to the provisions of 34 of the Income Tax Ordinance. The second was to exclude taxable income from other sources, the first to appeal the authority's remand of the case S was not. Appeals to the Assessing Officer were accepted and the following authorities' orders were vacated The Assessing Officer was instructed to accept exempt income / loss and to prevent taxable income from exempt income loss. Under 34

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