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1987 SCMR 139

PAKISTAN PROGRESSIVE CEMENT INDUSTRIES LTD. (Now National Cement

Citation1987 SCMR 139
CourtSupreme Court of Pakistan
Case No.Civil Petitions Nos. 31-K to 33-K of 1985 Income-tax References Nos. 114/115
Date1986-02-11
Judge(s)Abdul Qadir Sheikh, S. A. Nusrat
ResultLeave granted

ORDER

1. S. A. NUSRAT, J.--Leave to appeal is granted, inter alia, to examine the contention whether on the facts and circumstances of the case the amount of interest paid by the petitioners on the purchase price to Dalimia Cement Factory Limited could be deemed to have been incurred wholly and exclusively for the purpose of business under section 10(2)(xvi) of the Income-tax Act, 1922 and could be allowed as such. Security Rs.5,000 in each case.

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