Islamabad: The Supreme Court of Pakistan has clarified an important legal point and declared that the money appearing in the bank statement cannot be considered conclusive proof of income.
A two-member bench comprising Chief Justice of Pakistan Justice Yahya Afridi and Justice Muhammad Shafi Siddiqui issued this decision, which was written by Justice Muhammad Shafi Siddiqui.
The decision said that the bank statement is merely a record of transactions, and for any transaction to be considered income, it must be accompanied by verifiable evidence.
The court clarified that the mere appearance of money in the bank record is not proof that it is legal or real income. Unless there is any solid evidence or documentary evidence, bank transactions cannot be called income.
This decision is a milestone in the context of tax matters, financial transparency, and NAB cases, which may have an impact on future legal cases.
