ISLAMABAD: The Islamabad High Court (IHC) on Monday adjourned the hearing of a tax reference, challenging recovery notice notice of Rs 4,261,465,241 under the head of outstanding tax amount from M/s Best Way Cement Limited.
Justice Aamer Farooq heard the tax reference filed by M/s Best Way Cement Limited. The single bench adjourned the hearing of the case for the next week. The appellant had challenged a show cause notice issued by the Large Taxpayers Unit, Islamabad.
According to the notice, the LTU had asked the M/s Best Way Cement Limited to pay outstanding taxes in head of income tax being incurred on exports of Rs 4,261,465,241.
M/s Best Way Cement Limited had named Chief Commissioner Inland Revenue, LTU, Additional Commissioner Inland Revenue, LTU and others.
The appellant had challenged a show cause notice, dated January 05, 2016 for the tax year 2010, in head of income tax. Additional Commissioner Inland Revenue had issued the notice under sections of income tax ordinance, 2001.
M/s Best Way Cement Limited had prayed the court to direct LTU not to recover the said amount and abstain from any coercive action in this regard.
The petitioner had prayed the court operation of the impugned order issued by the tax authority may kindly be suspended till the decision of appeal pending before the LTU.
M/s Best Way Cement Limited submitted before the court that the impugned order was issued under mala fide intentions and had no legal standing or authority and the court may decide on relief which it deemed appropriate in this regard. It also stated that due legal course was not followed by the department in issuing the order.
The appellant had also mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not addressed grievances of the appellant too.
