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C.I.T., L.T.U., LAHORE versus ALLIED BANK OF PAKISTAN LIMITED, KARACHI

Section 29 Income Tax Ordinance (1979) Section 23 (I) (x) Income Tax Act, (XI of 1922) Section 10 (2) (XI) CBR Circular No. 13 (26) IT / I / 74 Date 2 7 1975 Legal State Bank of Pakistan Banking Regulations International Accounting System The bank has written off the absence of money received from bad loans with nominal costs as debited to the Profit and Loss account for bad loans. There is no reason for a claim for supply / validation claim Bad credit for banks was simply to adopt the rules set by the State Bank of Standards. If there was no deviation in the Produce Bank Regulation, RAW can not be denied credit because the department's claim that the infringement was not. , Full permission of banks' bad credit claim by the appellate tribunal \ r \ n

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