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TNB LIBETY POWER LTD. versus COMMISSIONER OF INCOME TAX

Sections 23 (1) (vii) and 31 (1) (b) provide for the deduction of interest paid by the Assisi Company in connection with the purpose of the business purpose, such interest deduction from the income of the Assisi Scope. Can't say guess. For the purpose of earning interest income wholly and exclusively, thus, in view of section 23 (1) (vii) of the Income Tax Ordinance, 1979, compute your income under your business profession or profession under Can be deducted while doing so. In the meantime, there may be a loss in business, which may close in comparison to the assimilation of interest income. \ R \ n \ r \ n

Related judgments — Islamabad, 2010

• ADAPTIVE SOLUTIONS (PVT.) LTD. v. UTILITY STORES CORPORATION, ISLAMABAD 2010 YLR 1618
• ALI ABBAS KHAN v. Mst. PALWASHA KHAN 2010 YLR 1632
• SHAUKAT HUSSAIN ABBASI v. ZIMS SECURITY (PVT.) LTD. 2010 PLC 17
• COMMISSIONER OF INCOME TAX, ZONE, ISLAMABAD v. CAP GAS (PVT.) LTD., RAWALPINDI 2010 PTD 763
• Hafiz TARIQ SAEED, EX-DE PTCL, GUJRANWALA v. FEDERATION through Secretary, (IT & Telecom Division), Ministry of Information Technology, Islamabad 2010 PLC(CS) 997
• ASSOCIATED PRESS OF PAKISTAN CORPORATION through Managing Director, Islamabad v. FEDERATION OF PAKISTAN through Secretary, Ministry of Labour Manpower and Overseas Pakistanis Divisi 2010 PLC(CS) 1003
• MUHAMMAD FURQAN v. SPEAKER NATIONAL ASSEMBLY 2010 PLC(CS) 1013
• Sheikh ANSAR AHMED v. FEDERATION OF PAKISTAN through Secretary, Establishment Division, Islamabad 2010 PLC(CS) 1018

All Islamabad judgments of 2010 →

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