Assets
Assets legal meaning, translation and judicial precedents.
Meaning & Judicial Interpretation: (اردو مفہوم اور قانونی تشریح)
Definition.
Word 'assets' is generally used in collective plural, and in commercial law it denotes the aggregate of available property, stock in trade, cash etc., belonging to a merchant or mercantile company
Asset is also used to signify the means which a person or bank or a corporation has as compared with his/its liabilities that' is, its identity is separate and is not inclusive of debt or liabilities but is only comparable to them and in this sense the word 'assets' has been used to denote whole of the property.
Word 'assets' is generally used in collective plural, and in commercial law it denotes the aggregate of available property, stock in trade, cash etc., belonging to a merchant or mercantile company
Asset is also used to signify the means which a person or bank or a corporation has as compared with his/its liabilities that is, its identity is separate and is not inclusive of debt or liabilities but is only comparable to them and in this sense the word 'assets' has been used to denote whole of the property.
Meaning.
"Assets", Pakistan Law Portal, available at: https://paklawportal.com/words-terms-maxims/3948
Precedents & Case Laws citing "Assets"
1994 P T D 1454
COMMISSIONER OF WEALTH TAX Versus KISHAN LAL BUBNA
Court: 204 ITR 6002002 P T D (Trib
N/A
Court: Income‑tax Appellate Tribunal Pakistan2013 P T D 1720
Messrs LAND MARK Versus INCOME TAX APPELLATE TRIBUNAL and others
Court: Lahore High CourtP L D 1999 Lahore 251
ICC TEXTILES LIMITED‑‑‑Petitioner Versus FEDERATION OF PAKISTAN through Secretary of Finance, Islamabad and 2 others‑‑‑Respondents
Court:2001 P T D (Trib
N/A
Court: Income-tax Appellate Tribunal PakistanP L D 1987 Supreme Court 202
SANAULLAH WOOLLEN MILLS LTD. AND ANOTHER‑Appellants Versus MONOPOLY CONTROL. AUTHORITY‑Respondent
Court: ‑‑ Ss. 2 (1) (o) & 4 (a) (i)‑Term "value of assets"‑Connotation Value of assets‑Determination of.‑Words and phrases.1996 P T D (Trib
N/A
Court: Income-tax Appellate Tribunal Pakistan2000 P T D 1461
K. V. SATHYANARAYANA RAJU Versus UNION OF INDIA and another
Court: 240 I T R 9121998 P T D 3627
COMMISSIONER OF INCOM&TAX Versus TATA IRON AND STEEL CO. LTD.
Court: 231 I T R 2852020 C L D 86
PAKISTAN MOBILE COMMUNICATIONS LIMITED and another — Appellants Versus MUBASHER SAEED SADOZAI, DIRECTOR/HEAD OF DEPARTMENT (CCD), SECP — Respondent
Court: Securities and Exchange Commission of Pakistan