LAHORE: The Federal Tax Ombudsman (FTO) reserved the verdict of tax refund appeal. The judgment will announced during next week.
According to the details, FTO Advisor heard the case in which the counsel for the appellant argued that the Corporate Regional Tax Office (CRTO) had failed to release the tax refund of the last two years claimed by the company.
He said that RTO collected excessive tax from M/s Makkah Steel Mills from the company 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 Corporate Regional Tax Office (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.
After hearing the arguments from both sides, FTO adviser Muhammad Zahiruddin reserved the verdict in the same appeal and the decision will be issued very soon. FTO will inform the parties when the order will be passed.
