ISLAMABAD: The Supreme Court has directed IT company Axact to submit its tax records for the last 10 years.
A three-member bench of the apex court headed by Chief Justice Mian Saqib Nisar and comprising Justice Umar Ata Bandial and Justice Ijazul Ahsan heard the suo motu on the Axact fake degrees case.
During proceedings, the chief justice also questioned the sources of funds for Bol TV owned by Axact. He asked how the channel was able to sustain itself when it did not have any monetary reserves and was not even taking advertisements.
He remarked that that the court could order the Federal Board of Revenue (FBR) for an audit of Axact company.
He observed that the court should know where the company is getting the money from. The owners of Axact should not be worried if they have not done anything wrong.
The counsel for the Pakistan Broadcasters Association (PBA) informed the court that the company’s capital is Rs 7 million whereas its salaries’ head is Rs 8 billion.
Axact’s counsel informed the court that statements of 18 witnesses have been recorded in the case proceedings in Karachi.
Moreover, during the hearing, the chief justice dismissed PBA’s plea to become a party in the case.
