HABIB BANK LTD., KARACHI versus COMMISSIONER OF INCOME TAX, KARACHI
Sections 17 (2) (a), 136 and Second Schedule Serial Nos. 79A and 79B Notification Section R745 (I) / 89, dated 11 7 1989 Grievance on the decision of the Income Tax Appellate Tribunal on the government's security tax waiver. Wind, whereby the ability to supply serial numbers 79A and 79B of the Second Schedule was exempted on the basis of the validity of Section 17 (2) (a) of the Return Bonds (Second Issue) Income Tax Ordinance 1979. Income Tax Ordinance, 1979, If there was a dispute between the two laws, there was no dispute between the two and notification section R 745 (I) / 89, dated 11 7 in 1989, with the extension of waivers over time. Was expanded. Section 17 (2) (a) of the Income Tax Ordinance, 1979, was not justified in denying waiver of immunity from review of interest on Wapda bonds (second issue) when the bonds were purchased when the bonds were dated. Was mentioned when interest on the profits / bonds became receivable by the buyer because the bonds could not be discharged before maturity and interest was paid on fixed dates, therefore, due to purchase dates. There could be no reason to receive interest at any time before, before the due date was accrued before the due date. The payment was not made and was allowed to be quoted accordingly
Related judgments — Karachi High Court Sindh, 2009
