IGI INSURANCE LIMITED, KARACHI versus C.I.R., AUDIT DIVISION II, L.T.U., KARACHI
Sections 109 (1) (a), 99, 67, 177, 122 (1), 122 (5) and Fourth Schedule, RR 6A and 5 (b) capital gains from the sale of income and deductible reclassification insurance business shares. Under R6A of the Fourth Schedule to the Immigration Income Tax Ordinance 2001, general insurance services were provided in various taxpayer sectors, including awareness of claims for exemption from capital gains. On the basis that it was not an investment and was in fact an "investment appreciation" which was a taxpayer which was actually a definition of the value of the shares under R5 (b) because the taxpayers sold and were simultaneously blue chip. Bought the same shares of The companies, within 72 hours, managed to systematically deal with twin and simultaneous transactions on the same day with the help of a single partner, which was the current issue of tax avoidance under section 109 of the Income Tax Ordinance 2001 and Was. There was no capital gain but accounts were borrowed only for the definition of investment and were re-read under section 109 (1) (a) of the Income Tax Ordinance 2001, which was amended by R 5 (a). And was read with R. The Assessing Officer of the Fourth Schedule of Income Tax Ordinance 2001 (5), further added under Section 67 of the Income Tax Ordinance 2001, making the first appeal of the Primitive Tax Regime (PTR) and the Normal Tax Regime (NTR). The Authority confirmed the action of the Assessing Officer in respect of Capital Gain under Section 109 of the Income Tax Ordinance 2001 and incorporated it under R5 (b) of Schedule IV of the Income Tax Ordinance 2001. And excluded the increase made under section 67 of the Income Tax Ordinance, 2001, asserting that taxpayers as
