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TELENOR PAKISTAN (PVT.) LTD. vs APPELLATE TRIBUNAL INLAND REVENUE, ISLAMABAD Ss — 2024 PTD 619 ISLAMABAD

Case information

Citation
2024 PTD 619 ISLAMABAD
Court
Islamabad High Court
Year
2024
Reporter
PTD
Parties
TELENOR PAKISTAN (PVT.) LTD. vs APPELLATE TRIBUNAL INLAND REVENUE, ISLAMABAD Ss
Subject matter
Tax & Customs
Provisions referred to
S. 24; 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

TELENOR PAKISTAN (PVT.) LTD. VS APPELLATE TRIBUNAL INLAND REVENUE, ISLAMABAD Ss. 20 & 24---Reference before High Court---Factual controversy---Deductions in computing income chargeable under the head "Income from Business"---Amortization deduction on intangibles---Scope---Taxpayer returned losses with the claim that its deductible expenses exceeded its taxable income---Taxpayer had deducted from its taxable income, the expenses incurred on the machinery---Department, after issuance of show cause notice, ordered that the software used in the machinery was an intangible asset, therefore, the expense incurred on the software was required to be deducted separately and in accordance with the procedure provided in S. 24 of the Income Tax Ordinance, 2001---Order-in-original was assailed before two appellate forums but to no avail---Validity---Controversy whether the software was integral part of the equipment or otherwise was a factual controversy, which had rightly been settled by the forums below---Reference applications were dismissed.

Other judgments reported in 2024 PTD

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