Second Schedule, Part IV, CL3A Waiver and Tax Concessions Tax Year, 2004 Taxpayers' markup waiver income claimed that Part IV of Part IV of Schedule IV of the Income Tax Ordinance 2001 Benefit should be allowed In line with the preceding effect for the charge year, the department claimed that unless specifically provided for in the law, especially when the law enforcement was concerned with charging the provision. The enforcement provisions could not be applied to the foregoing effect. Pursuant to Part IV of the Second Schedule to the Income Tax Ordinance, 2001, Clause 3A was applied under the Finance Act, 2004, which exempted income from profits on loan or self-debt. Yes, no prior effect was given by the legislature. The said clause from the tax year, 2005, the waiver was applied to me on f 1 7 2004, the waiver law provisions must be strictly adhered to and the previous effect would be against the law. In the case of the taxpayers, the markup was properly imposed on the income due to the waiver and the First Appellate Authority also rejected the order of the appellate tribunal. The appeal of the taxpayers for interfering with the order of the First Appellate Authority on this matter was dismissed by the Appellate Tribunal for non-compliance with the law.
Related judgments — Income Tax Appellate Tribunal Pakistan, 2010
