KARACHI, October 30, 2023 — In a significant development concerning income tax regulations in Pakistan, the Sindh High Court (SHC) has granted interim relief in a case related to deemed income under Section 7E of the Income Tax Ordinance, 2001.
KARACHI: TRG Pakistan Limited on Thursday said that Sindh High Court has passed an order on February 22, 2023 suspending, for the time being, the operation of bailable warrants issued by the district and sessions court against its directors.
KARACHI: K-Electric has filed a suit before Sindh High Court against a former member of Board of Directors demanding Rs5 billion as damages.
KARACHI: Sindh High Court has suspended tax recovery notices issued against Sui Southern Gas Company Limited, according to a communication sent to the Pakistan Stock Exchange (PSX) on Friday. The gas utility clarified reports regarding action of the Large Taxpayers Office (LTO) Karachi for making recovery by attachment of bank accounts. READ MORE: FBR freezes […]
KARACHI: A committee set up by a higher court of Pakistan has recommended complete ban on activities of cryptocurrencies in the country. The Sindh High Court in a petition constituted a committee on 20th October, 2021 for submitting recommendation on regulating cryptocurrencies in Pakistan. The petition was filed before the higher court seeking regulatory environment […]
The apex court of Pakistan has suspended the order of the higher court related to tax notices to Pakistanis for their overseas assets.
KARACHI: Sindh High Court (SHC) has dismissed a petition filed by Hum Network Limited for a grant of relief against a show cause issued by the Sindh Revenue Board (SRB). A division bench of the SHC in a case C.P.No.D-3735 of 2016, observed: “We are of the considered view that instant petition is misconceived and […]
KARACHI: Sindh High Court (SHC) on Friday declared levy of tax on undistributed profits under Section 5A of Income Tax Ordinance, 2001 as unconstitutional and set aside all the show cause notices and demand notices issued by the tax authorities under the section. A division bench of the SHC ordered in Sapphire Textile Mills Limited […]
KARACHI: Sindh High Court (SHC) has dismissed a constitutional petition that has challenged the privatization of K-Electric, the power distribution company. In a note sent to Pakistan Stock Exchange (PSX) on Monday, K-Electric Limited said that the court had dismissed constitutional petition bearing No. D1511-2012 titled as KESX Labour Union and Others vs. Federation of […]