ISLAMABAD: A single bench of the Islamabad High Court (IHC) on Thursday disposed of a tax reference of M/S Liberty Power Limited and barred the Federal Board of Revenue (FBR) from recovering outstanding tax amount of Rs 1.29 billion from it.
The single bench comprising Justice Aamer Farooq directed the Appellate Tribunal Inland Revenue (ATIR) to decide the application of M/S Liberty Power Limited pending before the Large Taxpayers’ Unit, Islamabad.
The appellant had challenged a recovery order of Large Taxpayers Unit, dated May 6, 2016. The LTU had issued the order for the recovery of outstanding tax of Rs 1.29 billion for the tax period from September 2009 to August 2012 from the company.
Federal Board of Revenue (FBR), LTU’s Inland Revenue Commissioner, Deputy Commissioner, Deputy Commissioner Inland Revenue Enforcement and ATIR were made party in the case.
