COMMISSIONER OF INCOME TAX, KARACHI versus B.R.R. INVESTMENT (PVT.) LTD., KARACHI
Sections 2 (12), 2 (16) (CC) [as inserted by the Finance Act (VII of 1992)] and the second schedule CL 116 Moderba Companies and Moderbas (Flotation and Control) Ordinance (XXI of 1980) ), Section 14, 15 & Mod 36 Moderba Companies and Moderba Rules, 1981, R 22 Capital 30 6 The taxability scope obtained from the sale of Moderba certificates before 1992 Moderba is a company and body corporate income tax ordinance in 1979. Definitely the term will fall under the definition of company. Section 2 (16) of the Ordinance, 1979, by the Finance Act 1992, was inserted clause (cc) to remove any confusion regarding the status of Moderba until such amendments could potentially result in such Not editing, would have been beneficial. Even before such an amendment, taxpayers would be considered a Moderba company, with Modarba being a company corporation formed by the Moderba Companies and the body corporate formed under the Moderbus (Flotation and Control) Ordinance, 1980. The Mudarabah Certificate, which falls under the Total 116 of the Second Schedule of the Ordinance, has been exempted from the scope of the tax rules.
Related judgments — Karachi High Court Sindh, 2011
