ISLAMABAD: The Islamabad High Court (IHC) has barred the Federal Board of Revenue (FBR) from recovering outstanding tax amount of Rs 177 million from PakCem Limited.
A single bench of the IHC comprising Justice Aamer Farooq decided the tax matters and also issued directions to the Large Taxpayers’ Unit (LTU) to decide PakCem Limited’s stay application within 30 days as its lawful obligation.
PakCem Limited had challenged the LTU’s notice for Rs 177 million under the head of outstanding sales tax.
LTU had issued the recovery order under provisions of Sales Tax Act, 1990 and also stated that the company had also to pay 5 percent default surcharge on principal outstanding tax amount. The appellant had made FBR, and officers of LTU, respondents in the case.
