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Initializing Secure Chambers
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Initializing Secure Chambers
Petitioner: COMMISSIONER OF INCOME-TAX, CENTRAL ZONE, LAHORE VS Respondent: Messrs SCHAZOO LABORATORIES LTD., LAHORE
Court Name: Lahore High Court Judge(s): Jawwad S. Khawaja, Nasim Sikandar Title:COMMISSIONER OF INCOME-TAX, CENTRAL ZONE, LAHORE vs Messrs
SCHAZOO LABORATORIES LTD., LAHORE Case No.: C.T.R. No.301 of 1991 Date of Judgment:2000-10-26 Reported As: 2001 PTD 3366 Result: Reference answered Judgment ORDER NASIM SIKANDAR, J.---This is a case stated by the Income Tax Appellate Tribunal, Lahore Bench for our opinion and answer. A question of law so framed reads as under:--- "Whether on the facts and in the circumstances of the case the Tribunal was right in holding that taxes payable can be termed as retained income for the purpose of levy of surcharge?" 2. Both the learned counsel agree that the issue in hand finally stands disposed of and decided against the Revenue by the Hon'ble Supreme Court of Pakistan in a reported judgment re: C.I.T. v. Messrs Habib Sugar Mills Ltd. 1993 PTD 343. 3. Accordingly answered in affirmative. .