Proud to Share a Milestone in Legal Excellence
It is our pleasure to honor a great accomplishment within the legal profession, accomplished with the help of our qualified and hardworking Senior Advocate Ms Riaz Begum , who is a legal consultant and counsel for the FBR. Our team had the distinct honor of successfully arguing an important case before the Lahore High Court: Commissioner Inland Revenue vs. M/s Gujranwala Electric Power Co. (GEPCO).
In interpreting Section 113 of the Income Tax Ordinance, 2001 this case posed a challenging but fundamental question on what turnover means. The Lahore High Court agreed with the FBR decision that the subsidies from the government to the electricity distribution companies should be treated as revenues and therefore taxable.
The judgment in this case was recently upheld by the Supreme Court, further reinforcing the importance of this legal precedent and marking a major victory for safeguarding public revenue.
This milestone was achieved showing the commitment to offer the best legal services and contribute relevant knowledge to the development of tax law. We are grateful for the opportunity to support such impactful work and proud of our Senior Advocate’s exceptional contributions to the case. https://sys.lhc.gov.pk/appjudgments/2023LHC6720.pdf
ZAHWAR LAW ASSOCIATES 