ISLAMABAD: The Islamabad High Court (IHC) will hear on Wednesday a tax reference of M/s CNPC Chuanqing Drilling Engineering Company Limited, seeking stoppage of recovery of outstanding tax of Rs 883,619,965.
A single bench of the IHC comprising Justice Aamer Farooq will hear the case. The appellant, M/s CNPC Chuanqing Drilling Engineering Company challenged a recovery order of the Large Taxpayers Unit (LTU), Islamabad of May 24, 2016. The LTU had issued the order, stating the recoverable outstanding tax of Rs 883,619,965 for the tax year 2015 under the head of income tax. The order was issued under provisions of Income Tax Ordinance, 2001.
Federation of Pakistan through Finance Division, Federal Board of Revenue (FBR), officers of LTU including Chief Commissioner Inland Revenue Appeals and Additional Commissioner Inland Revenue Audit were made respondent in the case.
The appellant had prayed the court to restrict LTU from recovering the said amount from its account and decide the stay application pending before an officer of LTU.
The appellant had also prayed the court that provide relief to the appellant which the court may deem fit and appropriate in this regard.
