LAHORE: The Federal Tax Ombudsman (FTO) has adjourned the hearing of a cases filed by M/s Shakergang Food Products Private Limited and M/s Al- Moiz Industries against Regional Tax Office till next date.
According to the details, FTO Advisor Tariq Yousaf heard the case of M/s Shakergang Food Products Private Limited Gulberg III Lahore and M/s Al- Moiz Industries Gulberg-III Lahore in which the counsel for the appellant argued that the Large Taxpayer Unit (LTU), Lahore failed to release the sales tax refund of the last three years.
They said that the RTO collected excessive tax from M/s M/s Shakergang Food Products Private Limited and M/s Al- Moiz Industries Gulberg-III Lahore during the last three years. They approached the commissioner of LTU many time for issuance of refunds but the LTU official did not pay the refunds after the passage of reasonable time.
At the end, the company decided to approach the FTO seeking interference in this case. The counsel appealed the FTO Adviser to direct the LTU to clear the refund claims of appellants.
The counsel further said that the LTU should refund the excess collection in wake of taxes by the end of financial year. Delay in issuance of refunds put burden on the taxpayers, he said, adding that the LTU should make audit of the cases and release the extra amount collected by it from the taxpayers.
On the other hand, counsel for LTU argued that case is under process in the Large Taxpayer Unit and after the final assessment LTU will release refunds to the appellant.
After hearing the arguments from both sides, Adviser Tariq Yousaf adjourned the cases until for further hearing and directed the parties to appear on said date to present arguments in the case.
