PAKISTAN PETROLEUM LTD., KARACHI versus COMMISSIONER OF INCOME TAX APPEALS, ZONE I, KARACHI
Section 2 (f) (vi), 4 and 5 Income Tax Ordinance (XLEX of 2001), Section 133 Workers' High Court Demand \ A welfare fund from a company company claims to own 93% of its ownership. Such funds are exempt for the shares. The appellate tribunal rejected the government's claim on the grounds that the SCC was not entitled to an exception because the company did not own the corporation, which was mostly owned by the government, where the government did not have any company. Most of the shares were fully owned. Owned by a legal corporation, such a company cannot be considered to meet the requirements of a public company because of the fundamental competence in which more than 50% of the shares used under the government word by or 50 words "concern" and "establishment" Was the acquisition of Section 2 (f) (vi) of the Workers \ Welfare Fund Ordinance, 1971, had an indefinite meaning that the term m corporation a would include a \ company, if the ownership of a corporation was owned by a corporation or a majority, then the majority of the shares would go before the government. Held, then such an establishment would be entitled to an exemption from the income of the SCDC company as an oilfield industrial establishment, although compensation for such funds is payable under Section 4 of the Workers' Welfare Fund Ordinance, 1971. , But that would be exempt. Due to the acquisition of 93% of the shares, the official High Court responded in favor of the applicant and against the reference to revenue. \ R \ n
Related judgments — Karachi High Court Sindh, 2009
