COMMISSIONER INCOME TAX versus HABIB BANK LIMITED AND ANZ GRINDLAYS BANK PLC
Sections 17 and 32 respondents who regularly assess the procedure for calculating tax-exempt income on interest on the federal / provincial government securities declare interest on government securities on the basis of receipts in the respective assessment years. File a tax return Assessing Authority was accepted Assessment was prepared and orders were treated as in the past, and then the Authority issued notices to banks for review of the matter so that it could be ascertained. As to why the earlier assessment was not opened and the Income Tax Ordinance, 1979, of the Legal Statute, exempted the Income Tax Ordinance, including interest on any of the securities of the Federal Government or a provincial government. Of which income was received by any financial calculator during the year. After a lengthy appeal file, permanently used by banks, the authority assessed and removed Aid accordingly.
