ISLAMABAD: The Islamabad High Court (IHC) to hear a tax reference filed by M/s Mustehkam Cement Limited challenging the Federal Board of Revenue’s claim on re-assessment of Rs 3,396,722,925 as outstanding tax.
A single bench of the IHC comprising Justice Aamer Farooq would hear the case on Wednesday. Through the petition, M/s Mustehkam Cement Limited had challenged the re-assessment of the company’s tax payments in tax year 2010.
M/s Mustehkam Cement Limited through the submission, had challenged a show cause notice for recovery of Rs 3,396,722,925 under the head of income tax, dated April 12, 2016.
Federal Board of Revenue (FBR), officers of LTU including Commissioner Inland Revenue, Deputy Commissioner Inland Revenue and Commissioner Inland Revenue (Appeals) were made respondent in the case.
M/s Mustehkam Cement Limited had prayed the court to direct LTU not to recover the said amount and abstain from any coercive action in this regard.
M/s Mustehkam Cement Limited 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 Mustehkam 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.
