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I.T.A. NO.699/KB OF 2003, DECIDED ON 29TH MARCH, 2005. versus I.T.A. NO.699/KB OF 2003, DECIDED ON 29TH MARCH, 2005.

Second Schedule, Part I, CL () 86) CBR Circular No. 2, 18 1996, Dated 2 2 1996 2 1996 1996 College by College College Transfer of a concession money, College Division endorsing Eskom Foundation waiver In clause (86) of Part I of the second schedule of income. The Tax Ordinance, 1979 was limited to any income of any University which was established for educational purposes only and no other institution was allowed to transfer the money, whichever of these funds the College of Assisi Foundation Exemptions for the benefit of welfare activities performed by the Foundation to be funded by the Division, could not be allowed, in addition, no details were provided regarding the activities of the Foundation Assessment Officer. , It was justified to conclude that the welfare work undertaken by the Foundation Has not decreased. The Income Tax Ordinance was covered by Part I (86) of Part II of the 1979 Schedule, since the Foundation was not enjoying the exemption under Total (86). In Part I of the Second Schedule to the Income Tax Ordinance 1979, the Essex Foundation failed to provide the necessary details reflecting the transfer mechanism to determine whether this section was a gift / donation / contribution / award or loan. The clause (86) of the 1979 Income Tax Ordinance's Second Schedule, restricted the use of profits and accumulated funds to educate and limit development profits and the use of any other entity involved in a profit-oriented business. No, as the facts will be, it is predicted from a sister organization by the party to whom the transaction took place. They are free top advocate from Tank lawyer