After a full day of arguments, the Federal Constitutional Court kept its Super Tax review ruling pending as major firms contest the 27 January order that backed the levy.
A three-judge bench led by Chief Justice Aminuddin Khan reserved its order on Monday after hearing Super Tax review pleas.
The 27 January ruling had held that Parliament could levy the tax through a Finance Act as a Money Bill under Article 73(2)(a).
Petitioners include Fauji Fertiliser, Engro, JS Bank, Pakistan Refinery, Colgate-Palmolive Pakistan and DHA Lahore, among others.
Super Tax, in place since 2015, applies above Rs500 million income: 4% for banks and 3% for other sectors.
Counsel asked that Section 4C be struck down or limited for tax year 2022, final-tax income, and loss or depreciation carry-forwards.