| Case ID |
1616826c-30f8-46f2-a113-bb7fdb507aa1 |
| Body |
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| Case Number |
C.T.R. No. 301 of 1991 |
| Decision Date |
Oct 26, 2000 |
| Hearing Date |
|
| Decision |
The Lahore High Court addressed a significant question of law regarding whether taxes payable could be classified as retained income for the purpose of surcharge levy. Both parties' counsel acknowledged that the issue had been previously resolved against the Revenue by the Hon'ble Supreme Court of Pakistan in the case of C.I.T. v. Messrs Habib Sugar Mills Ltd. The Court affirmed the Tribunal's decision in the affirmative, reinforcing the established legal precedent. |
| Summary |
In the landmark case presented before the Lahore High Court, the legal intricacies of the Income Tax Ordinance of 1979 were scrutinized, particularly focusing on Section 136. The court explored the implications of tax payments being considered as retained income, a pivotal consideration for surcharge levies. The matter was brought forth by the Income Tax Appellate Tribunal, leading to a decisive resolution that aligned with previous rulings from the Supreme Court of Pakistan. This case underscores the importance of clarity in tax law and the judicial interpretations that shape financial obligations for corporations. As tax regulations evolve, understanding the nuances of such rulings becomes essential for legal practitioners and businesses alike, ensuring compliance and strategic financial planning. The case reiterates the significance of established legal precedents in guiding current tax-related disputes, making it a crucial reference for future considerations in income tax law. |
| Court |
Lahore High Court
|
| Entities Involved |
Messrs Schazoo Laboratories Ltd.,
Commissioner of Income Tax, Central Zone, Lahore
|
| Judges |
Inam Ellahi Sheikh,
Rasheed Ahmed Sheikh
|
| Lawyers |
Muhammad Ilyas Khan,
Mirza Anwar Baig
|
| Petitioners |
Commissioner of Income Tax, Central Zone, Lahore
|
| Respondents |
Messrs Schazoo Laboratories Ltd., Lahore
|
| Citations |
2001 SLD 523,
2001 PTD 3366
|
| Other Citations |
C.I.T. v. Messrs Habib Sugar Mills Ltd. 1993 PTD 343
|
| Laws Involved |
Income Tax Ordinance, 1979
|
| Sections |
136
|