CRESCENT EDUCATIONAL TRUST vs REGISTRAR OF TRADE UNIONS LAHORE S — 2022 PLC 180 LAHORE-HIGH-COURT-LAHORE

Case information

Citation: 2022 PLC 180 LAHORE-HIGH-COURT-LAHORE
Court: Lahore High Court
Year: 2022
Reporter: PLC
Parties: CRESCENT EDUCATIONAL TRUST vs REGISTRAR OF TRADE UNIONS LAHORE S
Subject matter: Tax & Customs
Provisions referred to: S. 100C---T; S. 100C; Income Tax Ordinance

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

CRESCENT EDUCATIONAL TRUST VS REGISTRAR OF TRADE UNIONS LAHORE S.100C---Tax credit for charitable organizations---Scope---One of the persons to whom the provision of S.100C, Income Tax Ordinance, 2001 applies is a trust---Subsection (2) of S. 100C, Income Tax Ordinance, 2001 provides the category of income which is eligible for tax credit and includes income from donations, voluntary contributions and subscriptions as also income from investment in the securities of the Federal Government---Said provision pre-supposes that the income of a trust can be invested in the securities of the Federal Government and which income too is subject to tax credit---Under subsection (2)(f) of S. 100C, the eligibility of tax credit is subject to the condition that none of the assets of trust or welfare institutions confers a private benefit to the donors or family, children or author of the trust or any other person---Further a cumulative reading of subsections (1A) and (1B) of S. 100C would show that surplus funds of trust would only be taxed in case funds are not spent on charitable or welfare activities during the tax period---By subsection 2(d) of S.100C, income eligible for tax credit include income of an educational institution being run by a non-profit organization existing solely for educational purposes.

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