ISLAMABAD: The Islamabad High Court (IHC) on Wednesday disposed of a case filed by M/s CNPC Chuanqing Drilling Engineering Company Limited, seeking stoppage of the recovery of outstanding tax of Rs 883,619,965.
A single bench of the IHC comprising Justice Aamer Farooq heard the case and directed the Large Taxpayers Unit, Islamabad, to decide the stay application of the appellant within 60 days.
The bench also restricted the LTU from recovering the said amount from the accounts of M/s CNPC Chuanqing Drilling Engineering Company Limited till deciding the stay application pending before the LTU officer.
The appellant, M/s CNPC Chuanqing Drilling Engineering Company Limited, had challenged a recovery order of Large Taxpayers Unit, Islamabad (field office of Federal Board of Revenue), dated May 24, 2016. LTU had issued the order stating the recoverable outstanding tax of Rs 883,619,965 for the tax year 2015 in head of income tax. The order was issued under provisions of Income Tax Ordinance, 2001.
Federation of Pakistan through Finance Division, Federal Board of Revenue (FBR), officers of LTU including chief commissioner Inland Revenue Appeals and additional commissioner Inland Revenue Audit were made respondent in the case.
The appellant had prayed the court to restrict LTU from recovering the said amount from its account and decide the stay application pending before an officer of LTU.
The appellant had also prayed the court that provide relief to the appellant which the court may deem fit and appropriate in this regard.
