GADOON TEXTILE MILLS LIMITED vs FEDERATION OF PAKISTAN S — 2025 PTD 1465 PESHAWAR-HIGH-COURT

Case information

Citation: 2025 PTD 1465 PESHAWAR-HIGH-COURT
Court: Peshawar High Court
Year: 2025
Reporter: PTD
Parties: GADOON TEXTILE MILLS LIMITED vs FEDERATION OF PAKISTAN S
Subject matter: Tax & Customs
Provisions referred to: S. 65B; Finance Act; 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

GADOON TEXTILE MILLS LIMITED VS FEDERATION OF PAKISTAN S. 65B [as amended by Finance Act, 2019]---Constitution of Pakistan, Art. 199---Constitutional petition---Tax credit---Vires of amendment---Retrospective effect---Applicability---Petitioners/taxpayers had assailed Constitutionality of amendment in S. 65B of Income Tax Ordinance, 2001---Validity---Tax credit once earned under a legal dispensation is a coin in the pocket/hands of taxpayer which can be adjusted against tax assessed against tax payer as per law allowing such adjustment---Legislation in question did not give any impression that it had either affected vested rights of petitioners/taxpayers nor was retrospectively applicable---High Court declined to interfere in Legislation in question as the same had been passed by a competent legislation having prospective effect except in the following manner:

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