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Term deposits---Bank deposits---Exemption---Term deposits are prima facie outside the scope of business operations within the meaning of Cl. (74) of Part-I of Second Schedule to the Income Tax Ordinance; 2001 until brought back to the regular stream of business operation---Term deposits attract a higher profits compared to the "normal deposits" due to their long term removal from routine or ordinary course of company's business operations and were not entitled to the benefits of exemption under Cl. (74) of Part-I of Second Schedule to the Income Tax Ordinance, 2001 which exemption was purely restricted to the "bank deposits"---Funds deposited under a term deposit certificates could not generally be withdrawn during the time frame covered by the "term deposit" and in case of their withdrawa...
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