COMMISSIONER OF INCOME TAX, COMPANIES ZONE, ISLAMABAD vs FAUJI FOUNDATION LIMITED Ss — 2023 SCMR 1694 SUPREME-COURT

Case information

Citation: 2023 SCMR 1694 SUPREME-COURT
Court: Supreme Court of Pakistan
Year: 2023
Reporter: SCMR
Parties: COMMISSIONER OF INCOME TAX, COMPANIES ZONE, ISLAMABAD vs FAUJI FOUNDATION LIMITED Ss
Subject matter: Tax & Customs

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

COMMISSIONER OF INCOME TAX, COMPANIES ZONE, ISLAMABAD VS FAUJI FOUNDATION LIMITED Ss. 22 & 30---'Income from other sources' or 'income from business'---Determination---In cases where the dispute relates to determining whether its business income or income from other sources, the facts have to be duly considered so as to determine the objects of the assessee company, its functions and its memorandum of association or foundation documents---Once the primary business and functions are verified, the business activities need to be assessed to see it in the perspective of the declared objects and functions---Hence, the actual work of the assessee, its tax returns and how it treats its income has to be considered, to determine whether its income is business income or income from other sources.

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