I.T.AS. NOS. 730/HQ AND 900/HQ OF 1990-91 versus I.T.AS. NOS. 730/HQ AND 900/HQ OF 1990-91
Section 107, Income Tax Ordinance, 1979 Assessment, Modernization and Transformation of Plant and Machinery Tax Credit Assessment During the year 1989 90, the capital invested by the City before June 30, 1988 claimed to be entitled to the full tax credit. It has been held that the extent to which the amount exceeding the period specified by section 107 is represented shall not be available to the assessee under which any provision of section 107, Income Tax Ordinance 1979 There was no investment restriction on the machinery purchased. Such machinery has also been claimed to be entitled to tax credit allowance
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