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Cases Falling Under LHC Jurisdiction: Section 7E of Tax Law Will Now Be Applicable

ISLAMABAD: The Federal Board of Revenue (FBR) Wednesday directed field formations of Punjab that the section 7E (tax on deemed income basis) of the Income Tax Ordinance 2001 would now be applicable in cases falling under the jurisdiction of Lahore High Court from Feb 15, 2024.

In this regard, the FBR has decided to issue fresh instructions to its field formations.

The FBR has partially modified earlier instructions of Circular No. 03 of 2023-24.

Cases related to Section 7E: Hearing on day-to-day basis from March 26th onwards: SC

Therefore, the earlier instructions regarding non-applicability of section 7E of the Income Tax Ordinance in cases falling under the Jurisdiction of Lahore High Court are hereby withdrawn with effect from Feb 15, 2024, FBR new decision added.

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