UCH POWER (PVT.) LTD. versus INCOME TAX APPELLATE TRIBUNAL
Sections 23 ((1) (vii), 30 (2) (b), 31 (1) (6), 34 and Second Schedule, Part I, CL 176 [as Section RO No. 1046 (I) / 88 Filed by, dated 21 11 1988] Income Tax Ordinance (XLIX of 2001), Second Schedule Part I, CL 132 Essay Company, which is involved in generating electricity in the private sector, on the profit / bank account of the company. Interest accrued by the Company is retained only for such scheme, the interest paid by the Company in relation to capital is calculated by computing such interest income of the Company under Section 31 (1) (b) of the Income Tax Ordinance, 1979. Tax deductions on such interest income will be borrowed by the company The second part of the Second Schedule of Income Tax Ordinance, 1979, was only in respect of income received by the company under section 22, which, on the basis of section 30 of the Income Tax Ordinance, 1979, had separate income. Such interest income, however, was not eligible for exemption under total. Part 1 of 176 of its second schedule
