1989 PLP 1248 (PTD)
THE COMMISSIONER OF INCOME-TAX, CENTRAL, KARACHI Versus Messrs ATLAS ASSURANCE CO. LTD., KARACHI
| Citation | 1989 PLP 1248 (PTD) |
| Forum / Court | Karachi High Court |
| Bench Members | Saleem Akhtar and Imam Ali G. Kazi, JJ |
| Parties | THE COMMISSIONER OF INCOME-TAX, CENTRAL, KARACHI Versus Messrs ATLAS ASSURANCE CO. LTD., KARACHI |
Q1: What are the key laws and sections cited in 1989 PLP 1248 (PTD)?
This judgment primarily cites: statutory provisions as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1989 PLP 1248 (PTD)?
The case was heard and decided by the Karachi High Court bench comprising: Saleem Akhtar and Imam Ali G. Kazi, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1989 PLP 1248 (PTD) (THE COMMISSIONER OF INCOME-TAX, CENTRAL, KARACHI Versus Messrs ATLAS ASSURANCE CO. LTD., KARACHI). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Representation
- Nasim Ahmed Khan for Respondent.
Judgment & Decree
SALEEM AKHTAR, J.--The respondent is a public limited co pane which carried on General Insurance business during the assessment year 1973-74. It claimed provision for taxation reserve amounting to Rs.2,82,400 and for assessment year 1974-75 similar claim was made for Rs.1,33,
000. These claims were rejected by the Income-tax Officer on the ground that they could not be allowed as admissible deduction under section 10 (2) (xvi) of the Income-tax Act. The appeal filed before the Appellate Assistant Commissioner was allowed. The Department filed an appeal before the Tribunal and by a consolidated order the view taken by the Appellate. Assistant Commissioner was upheld. On an application filed under section 61 (1) of the Income-tax Act the following questions have been referred which relate to the aforestated two assessment years: (1) 1973-74: "Whether, in the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in deleting the add back of Rs.2,82,400 claimed by the assessee-company on account of provision for taxation or taxation reserve?" "Whether, in the facts and in the circumstances of the case, the, Income -tax Appellate Tribunal was right in deleting the add back of Rs.1,33.000 claimed by the assessee-company on account of provision for taxation or taxation reserve?" Similar question came up for our consideration in Commissioner for Income-tax, Central, Karachi v. Mercantile Fire and General Insurance Company Ltd., 1989 P T D 142 where relying on C.I.T. v. Alpha Insurance Co. Ltd., P L D 1981 Supreme Court 293 we had answered in the affirmative. Following the aforestated judgments we answer both these questions in the affirmative. M.Z.S.27/C-129/K Question answered in affirmative.