INCOME TAX APPELLATE TRIBUNAL
2002
THLN 717
2002 PTD 885 | (2002) 85 TAX 323
Laws Cited
Income Tax Ordinance, 1979
Sections
66,66ASecondSched.

VS

Petitioner(s) by: Asad Munir for Appellant.
Respondent(s) by: Imran Raza Kazmi, D.R. for Respondent
Present: MUHAMMAD TAUQIR AFZAL MALIK, JUDICAL MEMBER AND AMJAD ALI RANJHA, ACCOUNTANT MEMBER
ORDER

MUHAMMAD TAUQIR AFZAL MALIK (JUDICIAL MEMBER).-These are five appeals on behalf of the assessee against the order of IAC passed under section 66-A, dated 18-6-1999.2. The grounds of appeals in all the appeals are the same which are as under:3. They have called in question that the IAC while exercising his powers under section 66-A of the Income Tax-.Ordinance, 1979 has erred in holding NFML to be a private company as against our claim of it being a public company as provided for in para. B(2) of Part IV of First Schedule to the Ordinance.4. Arguments heard. Record perused.5. It has been contended by the A.R. that the assessee-Company and NFC which produces the fertilizer are one entity. It has vehemently contended that the management of the Company is under the Government of Pakistan. In support of his contention he has produced a letter, dated May 12, 1999 in which one Mr. Ahmed Farooq, Deputy Secretary (Personnel), Ministry of Industries and Production, Government of Pakistan, Islama...

2002 THLN 717
INCOME TAX APPELLATE TRIBUNAL
(2002 PTD 885 | (2002) 85 TAX 323)

PRESENT:
MUHAMMAD TAUQIR AFZAL MALIK, JUDICAL MEMBER AND AMJAD ALI RANJHA, ACCOUNTANT MEMBER

Petitioner(s) by: Asad Munir for Appellant..

Respondent(s) by: Imran Raza Kazmi, D.R. for Respondent.

Law: Income Tax Ordinance, 1979
Sections: 66,66ASecondSched.

Disclaimer / Note: We have reproduced the judgment for facilitation of readers; however, the readers must study the original or certified copy of the above said judgment before referring it in any Court of Law. The judgment as reproduced above is a reported judgment available in law magazines and journals namely: 2002 PTD 885 | (2002) 85 TAX 323