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COMMISSIONER INLAND REVENUE vs RIAZ BOTTLERS (PVT — 2024 PTD 772 SUPREME-COURT

Case information

Citation
2024 PTD 772 SUPREME-COURT
Court
Supreme Court of Pakistan
Year
2024
Reporter
PTD
Parties
COMMISSIONER INLAND REVENUE vs RIAZ BOTTLERS (PVT
Subject matter
Tax & Customs
Provisions referred to
S. 25; 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 VS RIAZ BOTTLERS (PVT.) LTD. S. 25(c)---Companies Profits (Workers' Participation) Act (XII of 1968), Ss. 2(c) & 9---Workers Profit Participation Fund (WPPF)---Amount transferred by a company to the WPPF---Not liable to tax under section 25(c) of the Income Tax Ordinance, 1979---Transferred amount to the WPPF could not be termed as arising out of a trade/trading rather the same is a statutory liability---Such amount was granted an exemption because a statute, in the present case, Companies Profits (Workers' Participation) Act, 1968, allowed for it---Hence, the amount transferred to the WPPF is nothing but a statutory liability and thus did not attract the provisions of section 25(c) of the Income Tax Ordinance, 1979---Petition was dismissed and leave to appeal was refused.

Other judgments reported in 2024 PTD

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