Industrial undertaking

Industrial undertaking was entitled to carry forward the losses incurred during the tax holiday period and have it set-off against the income earned in the assessment years beyond the tax holiday period in accordance with S. 35 of the Income Tax Ordinance, 1979.

Industrial undertaking was not entitled to carry forward- to the post-tax holiday period, the unabsorbed depreciation allowances that arose during the tax holiday period.

Industrial undertaking was not entitled to carry forward- to the post-tax holiday period, the unabsorbed depreciation allowances that arose during the tax holiday period.

Industrial undertaking was entitled to carry forward the losses incurred during the tax holiday period and have it set-off against the income earned in the assessment years beyond the tax holiday period in accordance with S. 35 of the Income Tax Ordinance, 1979.

Applicant companies were aggrieved of deduction of advance income tax by authorities under S.148(7) of Income Tax Ordinance, 2001

Validity

Telecommunication systems used by companies engaged in providing telecommunication services were covered under the definition of an "industrial undertaking"

Data processing through various machines, equipment and other modes was also to be covered within the meaning of 'subjection of goods and materials to any process'

Appellate Tribunal on factual side had to examine the process through which telecommunication operators render the services

If Appellate Tribunal failed to advert to a question of law or fact raised before it or before any other forum under the relevant statute, it was treated as a question of law for the purposes of S.133 of Income Tax Ordinance, 2001

High Court set aside the order remanded the matter and directed the Appellate Tribunal to advert to factual aspects in each case

Reference was decided accordingly.

Meaning of words given in one statute could not be imported or read into any other statute unless so expressly authorized by the legislature

Whether any entity qualifies to be an 'industrial undertaking' for the purpose of Income Tax Ordinance, 2001 needs to be determined exclusively with reference to the provisions of S.2(29C) of the Income Tax Ordinance, 2001.

Not covered under the definition of "industrial undertaking" and not entitled to take tax credit under S.65B of the Income Tax Ordinance, 2001

Finding by the Assessing Officer and confirmed by the First Appellate Authority were in consonance with provisions of the Income Tax Ordinance, 2001

Appeal on that score was rejected by the Appellate Tribunal.