1989 PLP 825 (PTD)
COMMISSION OF INCOME-TAX Versus EAGLE STAR INSURANCE CO. LTD.
| Citation | 1989 PLP 825 (PTD) |
| Forum / Court | Karachi High Court |
| Bench Members | Saleem Akhtar and Imam Ali G. Kazi, JJ |
| Parties | COMMISSION OF INCOME-TAX Versus EAGLE STAR INSURANCE CO. LTD. |
| Primary Law | Income-tax Act (XI of 1922) |
Q1: What are the key laws and sections cited in 1989 PLP 825 (PTD)?
This judgment primarily cites: Income-tax Act (XI of 1922) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1989 PLP 825 (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 825 (PTD) (COMMISSION OF INCOME-TAX Versus EAGLE STAR INSURANCE CO. LTD.). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Shaikh Harder for Appellant.
- S. Irtaza Hussain Zaidi for Respondent.
- Date of hearing: 30th November, 1988.
Headnotes / Summary
Ss.10 (2) & 66 (2)--Insurance Rules, 1922 R.40--Reference--Application under S. 66 (2)--Assessee, an Insurance Company carrying on fire and general insurance business--Question whether management expenses in excess of maximum as prescribed by R. 40, Insurance Rules, 1922 incurred by such company were admissible having been conclusively decided in the affirmative by Supreme Court there was no merit in application which was dismissed. Income Tax (Central) Karachi v. Alpha Insurance. Co. Ltd. P L D 1981 SC 293 and 1980 P T D 73 ref.
Judgment & Decree
Ss.10 (2) & 66 (2)--Insurance Rules, 1922 R.40--Reference--Application under S. 66 (2)--Assessee, an Insurance Company carrying on fire and general insurance business--Question whether management expenses in excess of maximum as prescribed by R. 40, Insurance Rules, 1922 incurred by such company were admissible having been conclusively decided in the affirmative by Supreme Court there was no merit in application which was dismissed. Income Tax (Central) Karachi v. Alpha Insurance. Co. Ltd. P L D 1981 SC 293 and 1980 P T D 73 ref. Shaikh Harder for Appellant. S. Irtaza Hussain Zaidi for Respondent. Date of hearing: 30th November, 1988. SALEEM AKHTAR, J.--The respondent carries on fire and general insurance business. During the assessment sear 1973-74 it incurred management expenses beyond the limit prescribed under the Insurance Rules. Accordingly the. Income Tax Officer disallowed a sum of Rs.1.27.025 which was added back to income. In appeal the Income Tax Appellate Tribunal allowed the same. The respondent filed an application under section 66 (1) of the Income Tax Act, which was dismissed as the question had been decided in P L D, Kar.
47. The applicant filed application under section 66 (2) raising the following question: "Whether on the facts and in the circumstances of the case the learned Income Appellate Tribunal was justified in holding that the sum of Rs.1,27,025 claimed as management expenses being in excess and in contravention of the maximum prescribed in this behalf a Rule 40 of the Insurance Rules is admissible?' This question was considered in Commissioner of Income-Tax (Central) Karachi v. Alpha Insurance Co. Ltd. Karachi P L D 1981 S C 293 and has been answered in the affirmation. Similar question was raised in New Jubilee Insurance Co.'s case 1980 P T D 73 and has been answered in the same terms as laid down by the Supreme Court. The question has, therefore, been conclusively decided and we see no reason to allow this application. The application is dismissed. M.BA/C-98/K Application dismissed.