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I.T.A. NO.114/KB OF 1990-91, DECIDED ON 30TH AUGUST, 2004. versus I.T.A. NO.114/KB OF 1990-91, DECIDED ON 30TH AUGUST, 2004.

Section 23 Ordinance of Banking Companies (LVII of 1962), Disapproval of Sections 25 and 84, permitting penalties for exceeding credit ceiling and reduction of restitution of legal cash reserves and liquid assets Has been denied. Germany was not fined because of the crime as provided in section 84 of the Banking Companies Ordinance, 1962, which was payable expenses in the event of non-penalty of penalty, after which the taxable income of the first appellate authority. Order confirms treatment. In the nature of penalties for violations of banking damages, the amount paid in the form of penalty interest was unacceptable, which is due to the penal interest paid by the banking companies for violating the policies to control the developments. Was not in accordance with the provisions. The nature of the penalties, since it was a virtual interest paid to the state, e-bank, cannot be interpreted as a routine business of a banking company, as violated by section 84 of the Ordinance of Banking Companies, 1962. Paying without penalty or interest penalty does not mean that there was no penal action that was imposed was not a allowable expense. best law firm from Thatta lawyer