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FAWAD AHMAD MUKHTAR vs COMMISSIONER INLAND REVENUE (ZONE-II), REGIONAL TAX OFFICE, MULTAN Ss — 2022 PTD 454 SUPREME-COURT

Case information

Citation
2022 PTD 454 SUPREME-COURT
Court
Supreme Court of Pakistan
Year
2022
Reporter
PTD
Parties
FAWAD AHMAD MUKHTAR vs COMMISSIONER INLAND REVENUE (ZONE-II), REGIONAL TAX OFFICE, MULTAN Ss
Subject matter
Tax & Customs
Provisions referred to
S. 5; S. 39; 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

FAWAD AHMAD MUKHTAR VS COMMISSIONER INLAND REVENUE (ZONE-II), REGIONAL TAX OFFICE, MULTAN Ss. 2(19)(a), 4(4), 4(5), 5, 8 & 39---Dividend in specie---Income liable to tax---Scope---Dividend in specie received by the taxpayer is income and taxable under S. 5 of the Income Tax Ordinance, 2001 ('the 2001 Ordinance')---Dividends constitute a separate block of income that is brought to tax in terms of S. 5 of the 2001 Ordinance---Dividends are to be taxed as a separate block of income under S. 5 but if for any reason any particular type, class or category of dividend, or the dividend involved in the facts and circumstances of a particular case, are found not to fall within the scope thereof, such dividend would then be brought to tax as "income from other sources" under S. 39 of the 2001 Ordinance---Either way a dividend is taxable unless exempt or otherwise taken out of the tax net by the application of any provision of the 2001 Ordinance.

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