COMMISSIONER OF INCOME TAX versus J.D. SUGAR MILLS LTD.
Sections 50 (4) and 80C Loan are deducted from the company under section 50 (4) of the Income Tax Ordinance 1979, without transferring possession to the company by selling and leasing the machinery of the Assisi on paper. The government or case for reviewing the complete and final exclusion of such tax under section 80C of Income Tax Ordinance, 1979, section 80C of 1979 while paying the loan amount. This agreement would not apply to any non-contractual agreement. The provision of section 80C of the service delivery ordinance shall apply only to the recipient when he is liable to deduct the tax under section 50 (4) of the Ordinance, but not otherwise to such land. Machinery can be called equipment and not there. Moderbaba Company had to transfer possession through Assissee, such a sale and leaseback arrangement was a loan that could secure the loan transaction. In such a transaction, the borrower was based on providing security in connection with the promise of the property; thus, there was neither buyer nor seller relationship nor demand and logistics if one were to engage in any activity as usual. Was not responsible for collecting tax on. Then, considering the deduction of the dependency tax and the complete and final exclusion under the speculative tax regime, the excise authorities will have nothing to do with displaying the muscle, provided for in section (50 ()) (b) (i). As amended, the Finance Ordinance, 1998, deals with obtaining debt and suffering through tax-deductible individuals, such as tax collectors and tax collectors.
Related judgments — Lahore High Court Lahore, 2009
