THE COMMISSIONER OF INCOME-TAX, CENTRAL `B\', KARACHI versus MESSRS PHILIPS ELECTRICAL CO. OF PAKISTAN LIMITED, KARACHI
Section 10 \ Free Reserve / Retirement Gratitude Assessment, a company has claimed that the Department of Income Tax Appeal Tribunal, appealing such amount as free money for retirement grants for department staff. Has found that such a provision cannot be construed as provision free reserve. Depending on its nature, a free reserve can be used in any way, stating that although the dealings with the reserve were clearly tied to a particular emergency or obligation, it could be referred to as a free reserve. Cannot be considered because it is a known liability. And profit and loss can be properly accounted for on the account
Find a Lawyer Near You
Dealing with a matter like this? Connect with a verified advocate in your city — free on SJP Lawyers Directory.
🔍 Find a Lawyer
law firms from Rabwah lawyer
