SHC strikes down section 5 of the Income Tax Ord 2001

KARACHI: An appellate bench of High Court (SHC) struck down section 5(A) of the Income Tax Ordinance 2001 for being ultra vires of the Constitution. The bench in its judgment declared that insertion of section 5A in the Income Tax Ordinance 2001, including amendments thereto from time to time, does… Continue reading

Inland Revenue Tribunal strikes down revenue demand against SEPCO

KARACHI: Judical Member Inland Revenue Appellate Tribunal Muhammad Javed Zakaria has struck down the order-in-original served on M/s Sukkur Electric Power Company (SEPCO) demanding payment of Rs12.246 billion outstanding against the power distributor. SEPCO approached Commissioner Appeals, who upheld the assessment order and noted that the order-in-original rightly pointed out… Continue reading

Government revenues to be short of Rs145 billion as SHC strikes down GIDC Act

KARACHI: The government revenues would be short of Rs145 billion as the Sindh High Court (SHC) has struck down Gas Infrastructure Development Cess (GIDC) Act 2015 for being unconstitutional. In a decision dated October 26, 2016, SHC noted that GIDC Act 2015 ultra vires the Constitution. The Court also held… Continue reading