IHC Strikes Down Presumed Tax Provision: Section 7E of Finance Act, 2022 Declared Unconstitutional
The Islamabad High Court (IHC) has made a groundbreaking decision by declaring Section 7E of the Finance Act, 2022, as unconstitutional and void ab initio. This section, introduced through the Finance Act, 2022, imposed a tax on the fair market value of capital assets located in Pakistan for tax year 2022 and onwards. However, the …









