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COMMISSIONER INLAND REVENUE, LTU, LAHORE vs WORLD CALL TELECOM LTD — 2024 PTD 358 INLAND REVENUE APPELLATE TRIBUNAL OF PAKISTAN

Case information

Citation
2024 PTD 358 INLAND REVENUE APPELLATE TRIBUNAL OF PAKISTAN
Year
2024
Reporter
PTD
Parties
COMMISSIONER INLAND REVENUE, LTU, LAHORE vs WORLD CALL TELECOM LTD
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 INLAND REVENUE, LTU, LAHORE VS WORLD CALL TELECOM LTD. Ss.37, 120 & 122(5a)---Income from capital gain---allocation of expenses to exempt capital gain---Scope---Taxpayer being a company deriving income from telecom and broadband services---Department assailed order passed by the Commissioner before the appellate Tribunal Inland Revenue ('Tribunal') by which allocation of expenses to exempt capital gain was deleted---Validity---Income from capital gain being a separate block of income and being similar in its charge to property income having restrictive allowance of expenditure could not be quantified for prorating the expenses claimed otherwise---Hence, apportionment of expenses was not permissible between exempt capital gain and income earned from other operations---Commissioner had rightly deleted the allocation of expenses under the head-in-question, and the Tribunal maintained the said impugned order---appeal filed by the Department was dismissed, in circumstances.

Other judgments reported in 2024 PTD

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