LAHORE: Federal Board of Revenue (FBR), Regional Tax Office-II (RTO-II), has announced the auction of Five-Kanal and 12-Marla property owned by the Vance Trading International Corporation on Rs55million tax evasion.
Chaudhary Karamat Ullah Khan, Commissioner Inland Revenue (CIR), Zone-V, declared that under Section 161 and 162 of the Income Tax Recovery Rules 2002, FBR is going to auction off the property of Sadam Hussain Akber due to tax evasion.
FBR mentioned that Regional Tax Office sent several notices to the Vance Trading International Corporation for the payment of income tax, but the respondents failed to pay their liabilities. So income tax authorities decided to auction the properties for the recovery of Rs55million income tax.
Customs Today learnt that unit-VIII of Zone-V placed at Bilour Palace Luxi Chowk will deal with all the matters and collect application from the bidders and make all the arrangements. FBR will deliver properties to the successful bidders who will give high value.
RTO-II called application from the interested bidders and conveyed all important instructions and information to the general public.
The property number 19-Lawrance Road, Mouza Mazang, Khavit Number 178, Khatooni Number 1311, Khasra Number 286, 287, 288, 289 and 290 will be auctioned on June 6 in the office of Assistant Commissioner Unit-VIII, Zone-V.
FBR authorities also declared that the successful bidders will be liable to pay all the federal, provincial and property transfer expenses to the department and advance income tax will be imposed under Section 236-A Income Tax Ordinances 2001. The failed bidders’ bank drafts and pay orders will be returned.
