COMMISSIONER INLAND REVENUE ZONE-I vs EXCELL PAKISTAN (PVT — 2022 PTD 1535 KARACHI-HIGH-COURT-SINDH

Case information

Citation: 2022 PTD 1535 KARACHI-HIGH-COURT-SINDH
Court: Sindh High Court
Year: 2022
Reporter: PTD
Parties: COMMISSIONER INLAND REVENUE ZONE-I vs EXCELL PAKISTAN (PVT

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

COMMISSIONER INLAND REVENUE ZONE-I VS EXCELL PAKISTAN (PVT.) LTD Ss.32 & 34---Method of accounting and accrual-basis accounting---Principles---Entry made in accounts, as per accounting system employed by a person regularly maintained by him is considered to be valid and allowable, if it is not contrary to other provisions of law---In mercantile system of accounting any ascertained liability accruing to any person, with reasonable apprehension that it would become payable, is an allowable deduction.

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