I.T.AS. NOS. 1818/LB AND 2414/LB OF 1992-93 versus I.T.AS. NOS. 1818/LB AND 2414/LB OF 1992-93
The second schedule, CI (116) and the first Schedule Part IV, paragraph B (2) Karachi Stock Exchange Listing Regulations, paragraph 2 (i) (iv) exempts the company from the tax-exempt public company definition of the stock exchange company The exemption from the listing / stock exchange assertion was approved by the company whose shares were sold, to the requirements set forth in the second schedule, CL (116) and the first schedule, Part IV, paragraph B (2). Was fulfilled. The Ordinance Income Tax Officer and the Income Tax Commissioner ignored the documentary evidence, misunderstood the law and pressured the service imagination to dismiss the claim for exemption waiver by the Income Tax Appellate Tribunal to the Assessing Officer for capital gains. Instructed to exempt and amend tax. Evaluation accordingly
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