NewsJanuary 03, 2018
LHC declares Super Tax on Rs500 million income valid
LAHORE: The Lahore High Court on Tuesday dismissed 29 petitions challenging imposition of Super Tax for the rehabilitation of temporarily-displaced persons. Justice Shahid Karim announced the verdict on petitions filed by the DG Khan Cement Company and others. The court had reserved its verdict after hearing arguments of all parties.The petitioners had submitted that Super Tax was imposed on individuals and companies on income of Rs500 million under Section 4B of the Income Tax Ordinance 2001. It was inserted by the Finance Act 2015 initially and later extended in the Finance Bill 2017. They contended that the Super Tax was not a tax and it could not be levied through a money bill by parliament. They submitted that the levy was in nature of double taxation.
The petitioners pleaded with the court to declare the Section 4B of Income Tax Ordinance unlawful. However, the Federal Board of Revenue and other respondents opposed the contentions, submitting that the Super Tax fell under the definition of tax and parliament was empowered to impose it as per the Constitution.
In its detailed order, the court agreed with the arguments of the respondents and declared that the provisions of Section 4b of the Income Tax Ordinance 2001 were in accordance with the Constitution and valid and dismissed the petitions.
Courtesy www.thenews.com.pk
Back to Pakistanlink Home