Discharge of Surety for Loss of Security by Creditor

Mr. Justice Tariq Saleem Sheikh in his judgment has decided the issue regarding discharge of surety for loss of security by creditor financial institution in E.F.A No. 2510 of 2015. 1. This is an appeal under Section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 (the “Ordinance), which impugns Order dated 17-9-2015 passed Read more about Discharge of Surety for Loss of Security by Creditor[…]

Definite Information for Amendment of Income Tax Assessment

Mr. Justice Tariq Saleem Sheikh in his judgment has decided the issue regarding definite information for amendment of income tax assessment in P.T.R No. 404 of 2012. 1. This is an application by way of reference under Section 133 of the Income Tax Ordinance, 2001 (the “Ordinance”), against order dated 25-6-2012 passed by the Appellate Read more about Definite Information for Amendment of Income Tax Assessment[…]

Supply of Cylinders by LPG Marketing Company a Taxable Supply

Mr. Justice Tariq Saleem Sheikh in his judgment has decided the issue regarding supply of cylinders by LPG marketing company a taxable supply in Sales Tax Reference No. 33 of 2005. 1. This is an application by way of reference under Section 47 of the Sales Tax Act, 1990 (the “Act”), which is directed against Read more about Supply of Cylinders by LPG Marketing Company a Taxable Supply[…]

Expiry of Initial Limitation and Extension of Time

Mr. Justice Tariq Saleem Sheikh in his judgment has decided the issue regarding expiry of initial limitation and extension of time by the Federal Board of Revenue in S.T.R No. 30 of 2014. 1. This is an application by way of reference under Section 47 of the Sales Tax Act, 1990 (the “Act”), against Order Read more about Expiry of Initial Limitation and Extension of Time[…]

Income Tax Notice after Five Years and Retrospective Legislation

Mr. Justice Tariq Saleem Sheikh in his judgment has decided the issue regarding issuance of income tax notice after five years and retrospective legislation in P.T.R No. 197 of 2010. 1. Through this judgment we intend to decide PTR No.197/2010 and the connected Tax References mentioned in Schedule-A filed by the Petitioner Department under Section Read more about Income Tax Notice after Five Years and Retrospective Legislation[…]

Requirements of Public Limited Company

The public limited company, once incorporated, has to comply with the requirements of Company Law. The basis compliance requirements of public limited company are as under: Directors of every company are required to appoint the first chief executive not later than fifteen days from the date of incorporation and thereafter within fourteen days from the Read more about Requirements of Public Limited Company[…]

Requirements of Single Member Company

The single member company, once incorporated, has to comply with the requirements of Company Law. The basis compliance requirements of single member company are as under: Director of every company are required to appoint the first chief executive not later than fifteen days from the date of incorporation and thereafter within fourteen days from the Read more about Requirements of Single Member Company[…]

Requirements of Private Limited Company

The private limited company, once incorporated, has to comply with the requirements of Company Law. The basis compliance requirements of private limited company are as under: Directors of every company are required to appoint the first chief executive not later than fifteen days from the date of incorporation and thereafter within fourteen days from the date Read more about Requirements of Private Limited Company[…]

Incorporation of Public Limited Company

Any three or more persons associated for lawful purpose may, by subscribing their names to the Memorandum of Association and complying with the requirements of the Companies Ordinance 1984 (“Company Law”) form a public limited company. The company needs a name for incorporation and first step towards it is to check availability of name from Read more about Incorporation of Public Limited Company[…]

Incorporation of Single Member Company

Any single person, by subscribing his name to the Memorandum of Association and complying with the requirements of the Companies Ordinance 1984 (“Company Law”) form a single member limited liability company. The company needs a name for incorporation and first step towards it is to check availability of name from the company registration office of Read more about Incorporation of Single Member Company[…]