Reserve for taxation
Reserve for taxation legal meaning, translation and judicial precedents.
Meaning & Judicial Interpretation: (اردو مفہوم اور قانونی تشریح)
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"Reserve for taxation", Pakistan Law Portal, available at: https://paklawportal.com/words-terms-maxims/13931
Precedents & Case Laws citing "Reserve for taxation"
1971 P T D 221
COMMISSIONER OF INCOME‑TAX, CITY I, BOMBAY Versus KORES (INDIA) (PRIVATE) LTD.
Court: Bombay (India)1991 P T D 1028
KARACHI — Appellant Versus Messrs PHOENIX ASSURANCE CO. LTD. — Respondent
Court: Supreme Court of Pakistan1991 S C M R 2485
CENTRAL ZONE, `A', KARACHI — Appellant Versus Messrs PHOENIX ASSURANCE CO. LTD: — Respondent
Court: ----First Sched., R.6 & S.10(7)---Insurance Act (X of 1938), Ss.11, 15 18, 21 & 102---Jurisdiction of Income Tax Officer---Taxation reserve being not expenditure, Income Tax Officer had no jurisdiction to examine or exclude same from the profit and loss account and the Profit and Loss Appropriation Account approved by the Controller of Insurance under the Insurance Act, 1938---Finality was attached to the accounts submitted by the assessee insurance company under the Insurance Act, 1938 to the Controller of Insurance, and the limited jurisdiction vesting in the Income Tax Officer was only to exclude expenditure from the balance profit in such accounts which was not permissible under S.10 of Income Tax Act, 1922---Income Tax Officer was not competent to upset the integrity of the accounts submitted by the assessee under the Insurance Act, 1938 by applying the ordinary rules for computation of profits and gains and for assessment of tax thereon in the light of provisions of Income Tax Act, 1922 in respect of the income in regard to the head `business'---If the item in question did not in substance and essence constitute expenditure, it would be out of power of Income Tax Officer to apply the provisions of First Schedule, R.6, Income Tax Act, 1922 to exclude and addback the same to the balance of profits in order to bring it within tax net- -Jurisdiction.1966 P T D 176
Present: K. Subba Rao, J. C. Shah and S. M. Sikri, JJ Versus CALCUTTA HOSPITAL AND NURSING HOME
Court: Supreme Court India1992 P T D 1177
Messrs HOME INSURANCE CO. LTD., KARACHI Versus COMMISSIONER OF INCOME TAX, COMPANIES RANGE III, KARACHI I.T.C.
Court: Karachi High Court1988 P T D 512
COMMISSIONER OF INCOME-TAX (CENTRAL ZONE), KARACHI Versus Messrs BEACH LUXURY HOTEL LIMITED
Court: High Court1998 P T D (Trib
N/A
Court: Income-tax Appellate Tribunal Pakistan1965 P T D 845
COMMISSIONER OF INCOME-TAX, WEST BENGAL Versus GANGADHAR BANERJEE & Co. (PRIVATE) LTD.
Court: Supreme Court India1983 P T D 370
COMMISSIONER OF INCOME‑TAX, WEST BENGAL‑II, CALCUTTA Versus MESSRS R. Mc. DILL & Co. (PVT.) LTD., CALCUTTA
Court: Calcutta High Court (India)1987 P T D (Trib
N/A
Court: Income-tax Appellate Tribunal Pakistan