ISLAMABAD: A single bench of the Islamabad High Court (IHC) will hear one tax reference, seeking court’s directions to refrain the Federal Board of Revenue (FBR) from recovery of around Rs 1.362 trillion from Oil and Gas Regulatory Authority (OGDCL).
The bench comprising Justice Aamer Farooq would hear the reference. The appellant, OGRA, had filed the petition in which it had respondent to the Large Taxpayers Unit’s, Islamabad, including the Federal Board of Revenue (FBR) chairman, Inland Revenue (Appeals) commissioner, Inland Revenue commissioner (Companies-Zone) and the Inland Revenue additional commissioner.
The appellant had challenge the 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 in head of various taxes and duties.
The appellant had prayed the court to order Commissioner Inland Revenue (Appeals) and Commissioner Inland Revenue (Companies-Zone) to refrain from effecting recovery proceedings according to amended assessment order and to direct Commissioner Inland Revenue (Appeals) to decide the fate of appeal pending before him.
The appellant had also prayed the court to grant a grace period of some days, subsequent to decision of Commissioner Inland Revenue (Appeals), be granted in order to enable the company to approach the forum of Appellate Tribunal Inland Revenue (ATIR).
