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COMMISSIONER INCOME TAX, (LEGAL DIVISION) R.T.O., KARACHI versus TEEJAYS EXCLUSIVE (PVT.) LTD., KARACHI

Sections 39, 15 (2), 122 (9) and 177 (4) (d) Income from Other Sources The first appellate authority obtained from the property directed that the increase be obtained instead of income from other sources. Rental income should be accepted as a separate block of income. Despite the fact that the properties were not owned by the taxpayers, the tax was claimed that the income received by the taxpayers from the immovable property was derived from other sources assessed under section 39 of the Income Tax Ordinance 2001. Considered because this property did not belong to a recognized owner. The company was named after a director of a company owned by the taxpayers, claiming that rental income was derived from properties that reflected on the taxpayers' balance sheet. And it would be wrong to conclude that this was not a rental income of the company but the income from other sources was not ruled out that all the property was in the name of a company director but he argued Was announced by the company / taxpayers. As all of its assets are clearly reflected in the balance sheet, income from such properties must be considered as rental income of the company and income from other sources is computed as per Section 15 of the Income Tax Ordinance 2001 (2) is not provided for the specification of. Rent means that the income received or received by the owner of the land or building should be classified as rental income, the person receiving the rent shall be the owner of the land or building in accordance with the provisions of the law.

Related judgments — Inland, 2012

• C.I.R., LEGAL DIVISION, R.T.O., HYDERABAD v. MEMON MOTORS (PVT.) LTD., HYDERABAD.T.A. 2012 PTD 1076
• COMMISSIONER INLAND REVENUE, ZONE-II, MULTAN v. CHICAGO METAL WORKS, INDUSTRIAL ESTATE, MULTAN 2012 PTD 1090
• PUNJAB BEVERAGES COMPANY (PVT.) LTD., FAISALABAD v. C.I.R., R.T.O., FAISALABAD 2012 PTD 1094
• COMMISSIONER INLAND REVENUE, ZONE-II, REGION, MULTAN v. CHICAGO METAL WORKS (PVT.) LTD., MULTAN 2012 PTD 1102
• SWAT CERAMICS (PVT.) LTD., NOWSHERA v. ASSISTANT COMMISSIONER INLAND REVENUE AUDIT DIVISION-I, R.T.O., PESHAWAR 2012 PTD 1113
• C.I.R. (LEGAL) R.T.O., FAISALABAD v. KAMAL SPINNING MILLS (PVT.) LTD., FAISALABAD 2012 PTD 1120
• ZAHID JEE TEXTILE MILLS LTD., FAISALABAD v. COMMISSIONER (APPEALS) INLAND REVENUE (R.T.O.), FAISALABAD 2012 PTD 1123
• CHICAGO METAL WORKS, INDUSTRIAL ESTATE, MULTAN v. COMMISSIONER INLAND REVENUE, MULTAN 2012 PTD 1133

All Inland judgments of 2012 →

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