ISLAMABAD: The Islamabad High Court (IHC) will resume hearing of a tax reference filed by M/s Acro Spinning and Waving Mills Limited on Friday.
A single bench comprising Justice Mohsin Akhtar Kayani will hear the case wherein company had challenged a show cause notice claiming recovery of Rs 934.62 million tax.
M/s Acro Spinning and Waving Mills Limited, through the submission, had challenged show cause notice for recovery of Rs 934,620,225 in head of income tax. The Large Taxpayers Unit (LTU), Islamabad had issued the show cause notice to the appellant.
Appellate Tribunal Inland Revenue (ATIR), Federal Board of Revenue (FBR), LTU officers and Inland Revenue-Appeals commissioner were made respondent in the case.
The company had prayed the court to direct LTU not to recover the said amount and abstain from any coercive action in this regard. It also asked 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 Acro Spinning 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 while processing the notice. The appellant also maintained that its grievances were neither entertained by the departmental adjudication.
