ITAS. NOS. 1449/KB, 1450/KB, 1451/KB OF 1985-86, 4263/KB, 4264/KB OF 1987-88, versus ITAS. NOS. 1449/KB, 1450/KB, 1451/KB OF 1985-86, 4263/KB, 4264/KB OF 1987-88,
Section 50CC, a non-residential company that operates through its branch headquarters outside Pakistan, allegedly borrowed from foreign shareholders and was required by the Banking Companies Ordinance, 1963 and the State Bank's requirements. Was brought to Pakistan to fulfill the. In Pakistan Assisi, government securities were purchased out of the said amount and interest was claimed on such borrowing, such expenditure will be claimed only if any tax was deducted on interest or it was paid. Was
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