IFTIKHAR MUHAMMAD CHAUDHARY, C.J.---Learned counsel appearing for the appellant contended that the department had not charged income tax on the deeming interest retrospectively but with effect from 1st July, 1976 as the Repealed Income Tax Act, 1922, therefore instead of dilating upon other points of the case, the appeals be disposed of the with the observation that the tax will be charged from by the department from the respondent with effect from 1st July, 1976 on the interest of loan.
2. Mr. Iqbal Salam Pasha learned counsel appearing for respondent in Civil Appeals Nos. 1443-1446 of 1996 had no objection if the appeals are disposed of in these terms. Order accordingly, the appeals are disposed of in view of the statement so made by the learned counsel for the appellant No order as to costs.