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COMMISSIONER INLAND REVENUE, LTO, LAHORE vs GUJRANWALA ELECTRIC POWER CO — 2024 PTD 440 LAHORE-HIGH-COURT-LAHORE

Case information

Citation
2024 PTD 440 LAHORE-HIGH-COURT-LAHORE
Court
Lahore High Court
Year
2024
Reporter
PTD
Parties
COMMISSIONER INLAND REVENUE, LTO, LAHORE vs GUJRANWALA ELECTRIC POWER CO
Subject matter
Tax & Customs
Provisions referred to
S. 113; 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

COMMISSIONER INLAND REVENUE, LTO, LAHORE VS GUJRANWALA ELECTRIC POWER CO. (GEPCO) Ss. 113(3)(a) & 133---Reference---Turnover---Subsidy granted by Federal Government---Authorities considered subsidy granted by Federal Government as turnover of respondent / taxpayers, who were companies engaged in business of distribution of electricity---Validity---Term 'turnover' as defined in S. 113(3)(a) of Income Tax Ordinance, 2001, is for sale of goods to take place from which gross receipts are derived---It does not constrain the sources from which those receipts have to be derived which may be one or multiple sources---Respondents' / taxpayers' / Discos' misplaced notion that there was in fact no sale to Federal Government had no basis---No sale needed take place to Federal Government and it was enough if it was done to the consumers---Amount recovered from consumers as well as subsidy amount constituted revenue receipts cumulatively liable to tax and comprised in definition of 'turnover' in S. 113 of Income Tax Ordinance, 2001---High Court decided the matter in favour of Authorities and against respondents / taxpayers---Reference was allowed accordingly.

Other judgments reported in 2024 PTD

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