SC declares applying IT penalties on repealed ordinance unlawful
ISLAMABAD: The Supreme Court has held that the penalties under Sections 182,184 and 186 of the Income Tax Ordinance (ITO), 2001 are unlawful and legally unsustainable. A five-member larger bench, headed by Justice Shahid Waheed, which decided the issue, also held that “the conclusion drawn by a three-member Bench (of SC) in the case of Eli Lilly Pakistan (Pvt.) Ltd depicts correct legal position…
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