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I.T.A. NO.2449/LB OF 1999, DECIDED ON 12TH APRIL, 2000. versus I.T.A. NO.2449/LB OF 1999, DECIDED ON 12TH APRIL, 2000.

Income Tax Ordinance 1979 Section 23 (1) (x) Premature writing of bad loans Bad credit is not considered by the State Bank for such behavior Impact Asset claim by bad credit, bank's permission The bad debt accumulated was a provision which could not be said as it was originally written and was without a State Bank certificate. The accuracy was denied and it was confirmed under the argument that the State Bank of Pakistan did not confirm that this was not a valid reason. The law imposes no such restriction. Such an argument can be used as a recourse but cannot be construed as a restriction / as it was itself an excellent judge to determine. What part of a bad debt is written in writing no matter the imagination A typical savvy businessman, especially a bank, used to write down debt just to save on taxes, because he was so much more than that. Loses the money it gets from protecting the law in a very precise way. If such bad loans are received afterwards, they can be increased in revenue and the taxable taxable tribunal has directed that the loans claimed by the asset holder should be allowed. best advocate from Sanghi lawyer