KARACHI: The honorable Sindh High Court (SHC) has suspended the operations of the petition filed regarding Super Tax for a period of 60 days.
Earlier, the petitioners challenged the constitutionality of Section 4C of the Income Tax Ordinance 2001, claiming that the said law is discriminatory.
“The petitioners have challenged the constitutionality of Section 4C of the Income Tax Ordinance 2001 and provisions appurtenant thereto, introduced vide Finance Act 2022, inter alia, upon grounds that the same unlawfully vitiates vested rights accrued in past and closed transactions; is discriminatory; confiscatory; demonstrably devoid of any intelligible differentia having rational nexus with the object of classification; and amounts to impermissible double taxation,” the order read.
The bench has heard the arguments and for reasons to be recorded later and subject to what is set out therein by way of amplification or otherwise.
These petitions are allowed in terms of and to the extent specificated including Sections 4C of the Income Tax Ordinance 2001 is read to reflect that the levy shall be applicable from the tax year 2023.
Notwithstanding the foregoing, the 1st provision to Division IIB of Part I of the First Schedule to the Income Tax Ordinance 2001 is declared to be discriminatory, hence, ultra vires to the constitution.
The operation of this judgment shall remain suspended for a period of sixty days from the date hereof; hence, the securities furnished.
