LAHORE: The Lahore High Court (LHC) has reserved verdict o`f case filed by more than two thousand businessmen in which the selection of cases for audit through random ballot by the Federal Board of Revenue (FBR) was challenged.
As per details, Justice Shahid Jameel Khan of Lahore High Court (LHC) heard the appeals filed by the businessmen against selection of cases for the year 2014 for audit by the Federal Board of Revenue.
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During the hearing counsel of appellant Muhammad Mohsin Virk argued before the court that Federal Board of Revenue (FBR) has sent notices for the year 2014 section 214 (C) and of Income Tax Act and section 72 (B) of Sales Tax Act. FBR selected the cases through random ballet for audit and sent notices for the provision of record.
However, without provisions of tax audit rules the Federal Board of Revenue (FBR) cannot select any case for audit so, the selection of cases of business institution is illegal. He argued that Lahore High Court already in year 2011 has set principals in such type of cases.
On the other side the counsel of Federal Board of Revenue (FBR) told the court that FBR has established audit policy and selects cases under the rules and procedure for audit. So the court may suspend applications by businessmen.
After hearing the arguments from both sides Lahore High Court (LHC) has reserved its verdict in the case that will announce very soon.
