UCH POWER (PVT.) LTD. versus INCOME TAX APPELLATE TRIBUNAL
Sections 23 (1) (vii), 30 (2) (b), 31 (1) (B), 34 and Second Schedule, Part I, CL 176 [as set forth in Section RO No. 1046 (I) / 88 Source, 21 11 1988] Income Tax Ordinance (XLIX of 2001), Second Schedule Part I, CL 132 Assistive Company, which is involved in private sector electricity generation, gains through company on profit / bank account. Interest paid, fully maintained for such a plan, is paid in connection with the capital loan. The tax exemption on such interest income of the company by the company under section 31 (1) (b) of the Income Tax Ordinance, computing such interest income of the company under section 176 of the 1979 section. The profits and benefits of the Income Tax Ordinance, 1979, in respect of the income received by the Company under section 22 of the Schedule I, were only those with a separate income covered under section 30 of the Income Tax Ordinance 1979. But such interest income of the Company was not eligible for exemption under total 176. Part 1 of its second schedule
