What could be described as a big decision, the Lahore High Court (LHC) on Tuesday declared the imposition of Super Tax, 2022 legal, reported 24NewsHD TV channel.
Pronouncing the verdict on over 350 petitions filed against imposition of the Super Tax, the court also reduced the tax rate for 16 sectors, including banking, from 10 to four per cent.
The 36-page decision, read out by Justice Jawad Hassan, is being hailed as a judicial precedent.
The court had reserved verdict on these petitions on April 12, 2023.
Counsels for the federal government and the Federal Board of Revenue (FBR) had opposed the petitions.
Reporter: Malik Ashraf