A.G.E. INDUSTRIES (PVT.) LTD. versus IAC OF INCOME TAX
Section 80C and Second Schedule Part IV, Total 9 [as amended by the Finance Act (IX of 1996)] Correction of words instead of words used in Second Schedule IV, CL (9) of the Income Tax Ordinance 1979 Impact of the Finance Act, 1996 Prior to such amendment, the Assisi had to file a written declaration to exit the speculative tax section of Section 80C of the Income Tax Ordinance 1979, while after such amendment, Assessee will be reviewed on granting a written option under such Government. Such amendments did not affect any of the substantive rights of the Assissee nor new taxes were imposed, but only the method of assessment was changed, if the amendments were made and the diagnostic benefits as well. For such disappointment and pending cases, such an amendment was declared a declaration and there is no cure for nature as there was no evidence to prove that a corrective action could be taken, I made such an edit.
Related judgments — Peshawar High Court NWFP, 2010
