PAKISTAN STOCK EXCHANGE LIMITED vs COMMISSIONER INLAND REVENUE ZONE-VI, KARACHI — 2026 SCMR 373 SUPREME-COURT

Case information

Citation: 2026 SCMR 373 SUPREME-COURT
Court: Supreme Court of Pakistan
Year: 2026
Reporter: SCMR
Parties: PAKISTAN STOCK EXCHANGE LIMITED vs COMMISSIONER INLAND REVENUE ZONE-VI, KARACHI
Subject matter: Tax & Customs
Provisions referred to: Income Tax Ordinance (XLIX of 2001)

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

PAKISTAN STOCK EXCHANGE LIMITED VS COMMISSIONER INLAND REVENUE ZONE-VI, KARACHI. Second Sched. Pt.1, Cl.93---Income Tax Ordinance (XLIX of 2001), Second Sched., Pt.1, Cl.59---Income tax---Exemption---Essential elements / components. The exemption clause can be said to contain three "elements". The income for which exemption is sought must be from "investments in securities of the Federal Government and house property". Either the said sources of income or the income itself must be "held under trust or other legal obligations wholly, or in part only, for religious or charitable purposes". The income must be "actually applied or finally set apart for application thereto".

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