COMMISSIONER OF INCOME TAX/WEALTH TAX COMPANIES ZONE-II, LAHORE versus LAHORE CANTT. COOPERATIVE HOUSING SOCIETY, LAHORE
Section 2 (16) (b) and 80B Co-operative Society Act (VII of 1925), Section 23 Corporate Body is found to be created by or under a law. There were no companies. In terms of section 2 (16) (b) of the Income Tax Ordinance, 1979, therefore, interest / profit was obtained from the bank's reserves under Section 80B of the Income Tax Ordinance, 1979. ) The Income Tax Ordinance, 1979, which was introduced by law at that time, was the kind of society that was directly established, created and created by the statue itself, which was created by private individuals. And was not registered under any law. An entity formed under this law, rather it was a body, otherwise it was created but registered under the law, so under the law, the composition, composition and composition of a body was just different from that of a body which The requirement was that only responsible societies registered under certain laws were not created by any law, but whatever manner of their formation, they were required to be registered with the Registrar of Cooperative Societies under the Cooperative Society Act, 1925; Were not included in the definition of the company. In section 2 (16) (b) of the Income Tax Ordinance, 1979 and as the assertion of the Income Tax authorities cannot be taxed, therefore, the Supreme Court upholding the decision passed by the High Court upheld the appeal dismissed.
