ISLAMABAD: The Islamabad High Court (IHC) on Friday disposed of a tax reference, besides restrain the Federal Board of Revenue (FBR) from recovery of around Rs 1.36 trillion from Oil and Gas Regulatory Authority (OGRA).
A single bench of the IHC comprising Justice Aamer Farooq heard the case and directed Inland Revenue Appeals commissioner to decide the appellant’s appeal within 60 days and submit the report before the bench.
The appellant, OGRA, had filed petition in which it had made respondents to Islamabad Large Taxpayers Unit’s (LTU) officers including, FBR chairman, IR Appeals commissioner, IR Companies-Zone commissioner and IR additional commissioner.
The appellant had challenged LTU’s amended assessment order, dated, February 17, 2016, creating demand of outstanding Rs 136,274,249,852 for the tax year 2015 in head of various taxes and duties.
The court accepted appellant’s plea to refrain the officials from effecting recovery proceedings according to amended assessment order and to direct IR Appeals commissioner to decide the fate of appeal pending before him.
The court also directed the department to grant a grace period of some days, subsequent to decision in order to enable the company to approach the forum of Appellate Tribunal Inland Revenue (ATIR).
