LAHORE: The Federal Tax Ombudsman (FTO) has reserved its decision on Ghani Industries case..
According to the details, Federal Tax Ombadsman Abdur Rauf Chaudhary heard the case of M/s Ghani Industries through vedio link in which the counsel for the appellant argued that the RTO had failed to release the sales tax refund of the last two year.
He said that RTO collected excessive tax from Ghani Industries during the last two years. They approached the commissioner concerned many times for issuance of refunds but the Regional Tax Office 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 Federal Tax Ombadsman to direct the Regional Tax Office to clear the refund claims.
The counsel further said that the Regional Tax Office 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 Regional Tax Office should make audit of the cases and release the extra amount collected by it from the taxpayers.
On the other hand, counsel for Regional Tax Office argued that the appellant Ghani Industries has not submitted all the relevant record in the office on which basis it is claiming for refunds. If appellant provides accurate record, the RTO will issue the refunds after proper assessment.
After hearing the arguments from both sides, Federal Tax Ombadsman Abdur Rehman Chaudhary reserved its decision about the case which will be announced later on.
