ISLAMABAD: The Islamabad High Court (IHC) on Friday will hear a tax reference filed by M/s Acro Spinning and Waving Mills Limited. The company had challenged a show cause notice claiming recovery of Rs 934.6 million taxes.
A single bench of the IHC comprising Justice Mohsin Akhtar Kayani will hear the matter. The Large Taxpayers’ Unit (LTU), Islamabad, had issued the show cause notice to the company for the recovery of the income tax. The ATIR, the Federal Board of Revenue (FBR), officers of the LTU, including Commissioner Inland Revenue, Deputy Commissioner Inland Revenue and Commissioner Inland Revenue (Appeals) were made respondents in the case.
M/s Acro Spinning and Waving Mills Limited had prayed the court to direct the LTU not to recover the said amount and abstain from taking any coercive action against it.
M/s Acro Spinning and Waving Mills Limited also prayed the court to suspend the notice until the decision of the appeal pending before the LTU. The company submitted that the impugned order was issued under mala fide intention and had no legal standing or authority and the court may decide what it deemed appropriate in this regard. It also stated that due legal course was not followed by the department in issuing the order.
