COMMISSIONER OF INCOME-TAX (CENTRAL), KARACHI versus MASERS FAKIR COTTON GINNING AND PRESSING INDUSTRIES LIMITED, GAMBAT
Section 10 (2) (vii), Proviso (ii) [as amended by the Finance Act (I of 1962), Section 6] Section 10 (2) (vii), Proviso (ii) [as amended] The object and interpretation of the surplus referred to in section 10 (2) (ii), Proviso (ii) (as amended) was to sell any building, machinery, etc. or factory in the corresponding accounting year so there was no business. Was not taxable. Under the circumstances
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