MEHMOOD MEHBOOB BROTHERS (PVT.) LIMITED, MULTAN versus C.I.R., R.T.O., MULTAN
Section 122 (SA) Valuation Modifications Profit and Loss Expense In addition to losses on the sale of shares of listed companies, the taxpayer claimed that the loss of capital on the loss of shares of state-owned companies - management / voluntary voluntary Refunded while taxable was calculated. Income; and the loss on the sale of the shares was a great loss, but since the tax on the sale of the shares is exempt, such loss cannot be carried forward and any subsequent years It cannot be adjusted against the big advantage. The Department claimed that the taxpayers did not disclose the sale of shares in the audited accounts as ordinary sales, except that the increase was correct and it should be maintained that the loss of its shares to the listed companies. The taxpayers did not have ordinary business sales but rather wasted assets, the difference between such sales revenue and cost / profit and loss was taken into account under the administrative expenses head, which was voluntarily returned. Was the accounting profit to reach taxpayers because the taxpayer had to own shares of listed companies. Sarah was claimed to have been included in the profit and loss account \ Administrative expenses \, would be tantamount to double the amount of additional taxes. Addition of such count was deleted by appellate tribunal by r count n
