SHC stays collection of Capital Gain Tax

KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Mahmood A Khan on Wednesday stayed collection of Capital Gain Tax till further orders.

The bench heard Haider Waheed advocate appearing for Hussain Bakshi, immediate past president of ABAD (Association of Builder & Developers) and Mrs Zainab Charania who challenged the extension in time limit of CGT. Previously CGT was applicable for sales within three years but such limit was increased upto 8 years retrospectively.

The counsel argued that  amendment was brought in through Financial Act 2019 which is in violation of constitution.

The bench later put of hearing to a date to be fixed by the office of the court.

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