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ALPHA INSURANCE COMPANY LIMITED vs The COMMISSIONER OF INCOME TAX CENTRAL ZONE-A, KARACHI Ss — 2022 PTD 439 KARACHI-HIGH-COURT-SINDH

Case information

Citation
2022 PTD 439 KARACHI-HIGH-COURT-SINDH
Court
Sindh High Court
Year
2022
Reporter
PTD
Parties
ALPHA INSURANCE COMPANY LIMITED vs The COMMISSIONER OF INCOME TAX CENTRAL ZONE-A, KARACHI Ss
Subject matter
Tax & Customs
Provisions referred to
S. 65; Income Tax Ordinance

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

ALPHA INSURANCE COMPANY LIMITED VS The COMMISSIONER OF INCOME TAX CENTRAL ZONE-A, KARACHI Ss.65 & 136---additional assessment---Exercise of authority under S.65 of Income Tax Ordinance, 1979 for additional assessment of taxpayer---Inadmissible expenditures---Scope---Question before High Court was whether income tax assessment of taxpayer, which was an insurance company, could be reopened under S.65 of Income Tax Ordinance, 1979, inter alia, on basis that amounts paid by taxpayer in taxes, including those deducted at source, were inadmissible expenditures, benefit of which could not be claimed by taxpayer---Held, that provision of S.65 of Income Tax Ordinance, 1979 was attracted when income of an assesee had either been under assessed or assessed at a lower rate or that such income had been subject to excessive relief---assessments, in the present case, were rightly reopened as such income for assessment years in question, was under assessed and amount of taxes actually paid including tax deducted as source, had been incorrectly allowed to company as expenditures, meaning thereby that taxpayer got incorrect relief which it was not entitled to---Reference was answered, accordingly.

Other judgments reported in 2022 PTD

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