THE C.I.T. CENTRAL ZONE, LAHORE Versus Mst. RASHIDA RAFIQ SAIGOL, LAHORE

C.T.R. No. 304 of 1991, decided on 30th October, 2000.

ORDER

NASIM SIKANDAR, J.- The Lahore Bench of the Income Tax Appellate Tribunal has referred following question of law for our opinion and answer:-

"Whether on the facts and in the circumstances of the case the Tribunal was justified in holding that exemption under Clause 129 of the second schedule to the Income Tax Ordinance, 1979 was unqualified and that any amount of Wealth Tax paid by an assessee for any year was an allowable deduction in the year in which it was paid."

2.After hearing the learned counsel for the Revenue, we have concluded that the issue in hand already stands answered by this Court in Income Tax reference No. 36/88 Re: CIT Companies Zone Lahore V. Naveed A. Sheikh decided on 10.2.1991. That judgment also stands reported as (1992) 65 Tax 80.

3.For the reasons stated above this reference is also answered in the affirmative. revisions by the competent authorities. Therefore, it is advisable to consult the official sources or legal professionals for the most up-to-date and accurate information.

Judges on this bench

Jawwad S. Khawaja1,549 judgments
Nasim Sikandar954 judgments