Members are hereby informed that due to typographical error,the case law 2002 PTD 976 was incorrectly reported in News & Views in Vol. # 3/2002 on page no. 7. Any inconvenience caused to any member due to the inadvertent error is deeply regretted. The same may kindly be read as follows -

CITATION

SECTION

ISSUES INVOLVED

2002 PTD 976

2, 3, 47

After thoroughly examing the provisions of Sections 2, 3,7. and 47 it has been held that Sales tax is not leviable on disposal of fixed assets.

For the first time in the history of Pakistan a National Tax Conference is being organized by theKarachi Tax Bar Association on 21st - 22nd February, 2003 at Hotel Pearl Continental, Karachi. The theme of the conference is "Tax Culture for Revival of Economy", Mr. Shaukat Aziz, Advisor to Prime Minister on Finance and Economic Affairs has kindly consented to be the Chief Guest of the Conference. Register yourself at the earliest.

Insha Allah the Diary, 2003 will be available for distribution on or after 27th December, 2002. Members are requested to collect the same. Like earlier years the Diary Committee has printed extra diaries for the worthy members which will be available at cost. Place your orders now !

The Members' Assistance Sub-committee claims no responsibility to the correctness of the contents published. The information provided is non-exhaustive and readers are advised to refer to the respective taxation laws/documents/case laws cited for understanding the issue involved.