FCC units apart Revenue Tax Ordinance part enabling taxation on ‘deemed revenue’ from belongings and property – Pakistan
ISLAMABAD: The Federal Constitutional Court docket (FCC) on Thursday put aside Part 7E of the Revenue Tax Ordinance (ITO) 2001 as extremely vires the Structure, which had empowered tax authorities to levy tax on “deemed revenue” from belongings and properties. Having a major affect on the Federal Board of Income’s (FBR) property taxation, Part 7E…