---Disposal and acquisition of assets---Write-off of 'idle assets'---Admissibility of loss---Assets having a tax written down value not being usable in manufacturing activity were declared as 'idle' and deduction was claimed under S.75(3A) of the Income Tax Ordinance, 2001---Such claim was not allowed by the Taxation Officer while First Appellate Authority accorded the relief---Validity---Since the matter had already been decided in taxpayer's favour, Appellate Tribunal upheld the order of First Appellate Authority and departmental appeal was dismissed.
| Court | Year | Appellant vs Respondent | Sections | Topic |
|---|---|---|---|---|
| Appellate Tribunal Inland Revenue | 2012 | Messrs HONDA ATLAS CAR (PAKISTAN), LTD., LAHORE
Vs C.I.T., LEGAL DIVISION, R.T.O., LAHORE |
Income Tax Ordinance (XLIX of 2001)---
----S.75(3A) |
Disposal and acquisition of assets---Write-off of 'idle assets' |