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Exchange Control Manual

Exchange Control Manual legal meaning, translation and judicial precedents.

Meaning & Judicial Interpretation: (اردو مفہوم اور قانونی تشریح)

1994 PTD 61 INCOME-TAX-APPELLATE-TRIBUNAL-PAKISTAN Judicial Precedent
S.2(41) & 55Income tax Rules, 1982, R. 190Return of total incomeReturn in the case of individual has to be signed by the individual himselfReturn which has not been verified as prescribed under the Rules is not a valid return.

[1987 P T D (Trib.) 632 and 1989 P T D (Trib.) 662 dissented from].

1986 CLC 222 KARACHI-HIGH-COURT-SINDH Judicial Precedent
S.4(3)Exchange Control Manual, Chap. 4 para. 26Booking of foreign exchange for purpose of import at a future dateClosure of forward contracts if rate on date of closure was higher than rate on date of purchaseCustomer would not be entitled to charge any differenceForward contracts in such case were to be closed on date of booking and not closure

Customer in certain circumstances was permitted to sell foreign exchange obtained by him, rate at which it was to be sold was to be fixed by State Bank of Pakistan

State Bank of Pakistan has discretion to close at rate on date when foreign exchange was booked or any date during currency of forward contract or on the date of closure but in no case a customer could claim to close it on date of closure or any other date at his option

Closure of forward contract and rate at which it was to be closed was not necessarily to be incorporated in contract

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Precedents & Case Laws citing "Exchange Control Manual"

YLR 1999
Constitutional Petition No.922 of 1987, decided on 11th March, 1998.

1999 Y L R 855

Mrs. AZRA NISAR‑‑‑Petitioner Versus DEPUTY COLLECTOR OF CUSTOMS and 2 others‑‑‑Respondents

Court: Karachi
PTD 1998
N/A

1998 P T D 370

ARSHAD MAHMOOD Versus GOVERNMENT OF PAKISTAN through Secretary, Ministry of

Court: Lahore High Court
PCRLJ 1974
Criminal Appeal No. 235 of 1970, decided on 19th February 1973,

1974 P Cr

M. MUNAWAR MALIK‑Accused‑Appellant Versus THE STATE THROUGH STATE BANK OF PAKISTAN‑Respondent

Court: Karachi
PCRLJ 1981
Criminal Appeal No. 15 of 1978, decided on 14th December, 1980

1981 P Cr

Qazi YAR MUHAMMAD-Appellant Versus THE STATE-Respondent

Court: Karachi
PCRLJ 1981
1981-June-4

1981 P Cr

WAQAR HUSSAIN-Appellant Versus THE STATE Respondent

Court: Karachi
CLC 1986
Revision Application No. 221 of 1976, decided on 1st October, 1985.

1986 C L C 222

AGHA BROTHERS Ltd.‑‑Applicant Versus HABIB BANK Ltd.‑‑Respondent

Court: Karachi
PCRLJ 1998
Custom Appeals Nos. 6, 7, 10, 11, 15 and Custom Criminal Jail Appeal No. 16 of 1997, decided on 16th September, 1997.

1998 P Cr

NABI DAD and others‑‑‑Appellants Versus THE STATE‑‑‑Respondent

Court: Quetta
PCRLJ 1986
1986-March-16

1986 P

ZIAULLAH CHAUDHRY Applicant Versus THE STATE Respondent

Court: Karachi
PLD 2001
Writ Petition No.6508 of 2001, heard on 25th June, 2001.

P L D 2001 Lahore 539

MUGHAL INTERNATIONAL, LAHORE through Partner‑‑‑Petitioner Versus FEDERATION OF PAKISTAN through Secretary

Court:
PLD 1998
N/A

P L D 1998 Lahore 152

ARSHAD MAHMOOD — Petitioner Versus GOVERNMENT OF PAKISTAN through Secretary, Ministry of Interior and Narcotics Control, Islamabad and another — Respondents

Court: High Court