LAHORE: The Federal Tax Ombudsman (FTO) has adjourned the hearing of case filed by M/s Capital Industries Private Limited against Corporate Regional Tax Office (CRTO) Lahore until the next date.
According to the details, FTO Mian Munawar Ghafoor heard the case in which the counsel for the appellant Hashim Aslam Butt argued that the Corporate Regional Tax Office (CRTO), Zone-IV had failed to release the tax refund of the last two years claimed by the company.
He said that the RTO collected excessive tax from M/s Capital Industries Private Limited during the last two years. He approached the commissioner concerned many times for issuance of refunds but the CRTO officials 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 advisor to direct the CRTO to clear the refund claims.
The counsel further said that CRTO should refund the excess collection in wake of taxes by the end of financial year but the situation is quite otherwise. Delay in issuance of refunds put burden on the taxpayers, he said, adding that the CRTO Lahore should make audit of the cases and release the extra amount collected by it from the taxpayer.
On the other hand, counsel for CRTO argued that the appellant M/s Capital Industries Private Limited has not submitted all record in the office on which basis it is claiming for refunds. If appellant provides accurate record, the CRTO will issue the refunds if any after proper assessment.
After hearing the arguments from both sides, Advisor Mian Munawar Ghafoor adjourned the case until next date for further hearing and directed the parties to appear on said date to present arguments in the case.
