1989 PLP 176 (PTD)
COMMISSIONER OF INCOME-TAX CENTRAL ZONE `B', KARACHI Versus Messrs WESTERN ASSURANCE Co. LTD.
| Citation | 1989 PLP 176 (PTD) |
| Forum / Court | Karachi High Court |
| Bench Members | Saleem Akhtar and Imam Ali Kazi, JJ |
| Parties | COMMISSIONER OF INCOME-TAX CENTRAL ZONE `B', KARACHI Versus Messrs WESTERN ASSURANCE Co. LTD. |
| Primary Law | Income-tax Ordinance (XXXI of 1979) |
Q1: What are the key laws and sections cited in 1989 PLP 176 (PTD)?
This judgment primarily cites: Income-tax Ordinance (XXXI of 1979) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 1989 PLP 176 (PTD)?
The case was heard and decided by the Karachi High Court bench comprising: Saleem Akhtar and Imam Ali Kazi, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 1989 PLP 176 (PTD) (COMMISSIONER OF INCOME-TAX CENTRAL ZONE `B', KARACHI Versus Messrs WESTERN ASSURANCE Co. LTD.). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Shaikh Haider for Appellant.
- Sirajul Haq for Respondent.
- Date of hearing: 6th October, 1988.
- We have heard Mr. Shaikh Haider and Mr. Sirajul Haque, Advocates. Both the learned counsel have frankly stated that the question has conclusively been decided in the case of Commissioner of Income-tax v. Alpha Insurance Company Limited (P L D 1981 SC 293). In view of the judgment of the Supreme Court the question stands conclusively decided and, therefore, the application is dismissed.
Headnotes / Summary
S. 23(1) (xvii) & Sched. IV, R. 26(a) & Sched. 1, R. 6--Insurance Act (IV of 1938), S. 40(c)--Insurance Rules, 1938, R. 40--Management expenses of Insurance 'Company beyond the permitted amount in terms of S.40(c), Insurance Act, 1938 and R. 40, Insurance Rules 1940 were admissible deduction in computation of profit. Commissioner of income-tax v. Alpha Insurance Company Limited P L D 1981 SC.293 fol.
Judgment & Decree
Commissioner of income-tax v. Alpha Insurance Company Limited P L D 1981 SC.293 fol. Shaikh Haider for Appellant. Sirajul Haq for Respondent. Date of hearing: 6th October, 1988. SALEEM AKHTAR, J,--This is an application under section 66(2) of the Income Tax Act. The respondent carries on business of general insurance. For the assessment year 1975-76 ending on 31st December, 1974 a return of income was filed by the respondent declaring income of Rs. 65,
740. It claimed management expenses beyond the amount permitted in terms of Rule 40 and section 40 (c) of the Insurance Act. This was not allowed by the Income Tax Officer and Rs. 25,676 was added back to the income. The respondent filed an appeal before the Appellate Assistant Commissioner who allowed it. The applicant then filed appeal before the Tribunal which was dismissed. He moved an application under section 66(1) of the Act to draw a statement of the case and refer the question of law arising from the order of the Tribunal to the High Court. The Tribunal, rejected the reference application and refused to state the case. The applicant then filed the present application stating, that the following question of law raises from the order of the Tribunal and the same may be answered. "Whether, on the facts and in the circumstances of the case, the Income tax Appellate Tribunal was justified in holding that the sum of Rs. 25,676 claimed as management expenses being in excess of and in contravention of the maximum prescribed in this behalf under Rule 40 of the Insurance Rules were admissible?" We have heard Mr. Shaikh Haider and Mr. Sirajul Haque, Advocates. Both the learned counsel have frankly stated that the question has conclusively been decided in the case of Commissioner of Income-tax v. Alpha Insurance Company Limited (P L D 1981 SC 293). In view of the judgment of the Supreme Court the question stands conclusively decided and, therefore, the application is dismissed. M.BA./70-C/K Application dismissed.