Tax Book 2023

(Ben LeoJzBdje) #1

Assets and Depreciation Chapter- 10


Q. NO. 3 (d) SUMMER 2007 Describe in detail:


(i) Disposal and acquisition of assets u/s 75 of the Income Tax Ordinance, 2001.


(ii) Business and personal assets u/s 75(7) of Income Tax Ordinance, 2001.


Q. NO. 6(a) WINTER- 2006 Briefly state assets eligible for initial depreciation allowance u/s 23(5) of the
Income Tax Ordinance, 2001.


Q. NO. 4(b) WINTER 2 005 Explain the terms b. Non-arm’s length transactions


Q. NO. 2 WINTER- 2004 What do you understand by the following terms as described in Income Tax
Ordinance, 2001?




  1. Disposal of Assets




  2. Initial allowance u/s 23




  3. Eligible depreciable assets




  4. Business assets and personal assets




Q. NO. 2 WINTER- 2003 Describe amortization of intangibles as an allowable expense under section 24 of
the Income Tax Ordinance, 2001.

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