I.T.A. NO.2429/LB OF 2000, DECIDED ON 23RD SEPTEMBER, 2002. versus I.T.A. NO.2429/LB OF 2000, DECIDED ON 23RD SEPTEMBER, 2002.
Section 12 (18) In order to clear the income tax liability, the income of the company / director in his personal bank account paid by the directors to the Pakistan company paid by the director, Lane Amount, to the income of the third party, Who has to buy new buses. And the cash loans received from sister companies by recording transfer entries were shown as debt received from directors in the Company's account books). The total income under section 12 (18) of the Income Tax Ordinance 1979 I had added such money. Instead of making direct payments to the third party through the directors, the payment should have been made through the bank account of the company, the purpose of justifying section 12 (18) of the Income Tax Ordinance 1979 was to check the fake loan and withhold the withdrawal. Historical introduction of credit in account books where real loans received by cash or banking channels from IDs should not be truncated solely on the basis of the assessee's perceived income on the basis that credit through cross check The amount was not recovered where the nature and source of the money were not satisfactorily stated, in addition the income of the assessee can be made under section 13 of the Revenue. Tax Ordinance, 1979, Despite the claim that any loan was received through crosscheck, etc. The directors of the company have ever disputed the responsibility of refunding the company's tax and taxing the company from their personal bank account. As such, the payment was made by another director intending to purchase the bus manufacturer from the company / assisi on a cross-check route.
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