The COMMISSIONER INLAND REVENUE vs MEKOTEX (PVT — 2024 PLD 1168 SUPREME-COURT

Case information

Citation: 2024 PLD 1168 SUPREME-COURT
Court: Supreme Court of Pakistan
Year: 2024
Reporter: PLD
Parties: The COMMISSIONER INLAND REVENUE vs MEKOTEX (PVT

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

The COMMISSIONER INLAND REVENUE VS MEKOTEX (PVT.) LIMITED Vested right under a law---Scope---Past and closed transaction---Scope---A right vests when all the facts required by law to establish that right have occurred---In other words, when all the facts necessary to create a right have occurred, the right is said to be "vested"---A right remains inchoate and contingent when some, but not all, of the investitive facts have occurred---A "vested right" is, therefore, one that is absolute, complete and unconditional, with no obstacles to its exercise---It is immediate and perfect in itself, not dependent upon any contingency---Vested right are thus free from contingencies, but ordinarily there are always specific occasions and circumstances under which such vested rights may be exercised---A vested right becomes a past and closed transaction when such right is exercised, or deemed to have been exercised by operation of law, at a specific occasion and under specific circumstances---Since such specific occasions and circumstances may vary under different laws, it is determined on the basis of the peculiar facts and legal position of each case whether a vested right has turned into a past and closed transaction.

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