Find a Lawyer

I.T.AS. NOS. 790, 791 AND 403/KB OF 1981-82, DECIDED ON 30TH MARCH, 1988. versus I.T.AS. NOS. 790, 791 AND 403/KB OF 1981-82, DECIDED ON 30TH MARCH, 1988.

Sections 22 (2) and 23 (1) cannot be considered a debt iv1eaning guarantee for debt repayment, such as a bad debt loan to fall under section 23 (1) of the guarantee payment allowance. Will not be accepted. There should be a person who can properly be called a commercial loan, i.e. the profit of the business being taken where the assessee has no guarantee of standing up to the other person, nor is it an interest. Nor is it permitted to be used by other persons for the purpose of obtaining loans for their own interests; the assessee's claim for guarantee money was neither in connection with the continuation of his business. Nor is it accidental.

Related judgments — Income Tax Appellate Tribunal Pakistan, 1988

• INCOME-TAX APPEALS NOS. 3592/LB AND 3593/LB OF 1983-84, DECIDED ON 5TH MAY, 1986. v. INCOME-TAX APPEALS NOS. 3592/LB AND 3593/LB OF 1983-84, DECIDED ON 5TH MAY, 1986. 1988 PTD 354
• I. T. AS. NOS. 1818/KB TO 1821/ KB OF 1983-84, 1754/ KB TO 1756/KB AND 4242/KB OF 1986-87 v. I. T. AS. NOS. 1818/KB TO 1821/ KB OF 1983-84, 1754/ KB TO 1756/KB AND 4242/KB OF 1986-87 1988 PTD 369
• I.T.AS. NOS. 4811/LB AND 4810/LB OF 1980-81, DECIDED ON 11TH FEBRUARY, 1988. v. I.T.AS. NOS. 4811/LB AND 4810/LB OF 1980-81, DECIDED ON 11TH FEBRUARY, 1988. 1988 PTD 377
• I. T. A. NO. 1562 OF 1982-83, DECIDED ON 3RD JULY, 1985. v. I. T. A. NO. 1562 OF 1982-83, DECIDED ON 3RD JULY, 1985. 1988 PTD 383
• I.T.A. NO. 233/ KB OF 1985-86, DECIDED ON 9TH APRIL, 1988. v. I.T.A. NO. 233/ KB OF 1985-86, DECIDED ON 9TH APRIL, 1988. 1988 PTD 428
• I. P. AS. NOS. 1360 TO 1364(KB) OF 1984-85, DECIDED ON 11TH APRIL, 1988. v. I. P. AS. NOS. 1360 TO 1364(KB) OF 1984-85, DECIDED ON 11TH APRIL, 1988. 1988 PTD 437
• I.T.A. NO.826/ KB OF 1983-84, DECIDED ON 15TH MARCH, 1988. v. I.T.A. NO.826/ KB OF 1983-84, DECIDED ON 15TH MARCH, 1988. 1988 PTD 447
• STA NOS. 1/KB AND 2/KB OF 1983-84, DECIDED ON 28TH MARCH, 1988, v. STA NOS. 1/KB AND 2/KB OF 1983-84, DECIDED ON 28TH MARCH, 1988, 1988 PTD 471

All Income Tax Appellate Tribunal Pakistan judgments of 1988 →

immigration advocates email from Ghazi lawyer

Talk to a Lawyer Free · replies in minutes