ISLAMABAD: The Federal Board of Revenue (FBR), in its statement submitted to the Supreme Court, has said that it found nothing illegal against Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan so far during its investigation in offshore companies’ case.
The revenue authority said that further investigation is being undertaken pertaining to the allegations made by PML-N leader Hanif Abbasi, in his petition, against Khan’s tax matters.
“If any actionable discrepancy is found then the appropriate legal proceedings will be initiated,” FBR said.
Hanif Abbasi has alleged that Imran Khan had wilfully concealed “incorporation of an offshore company” of which he was a beneficial owner, and added that the PTI chief also intentionally concealed investments made in the real estate sector in Islamabad.
The petitioner contended that Khan had misused the amnesty scheme introduced by the FBR in 2000 for taxpayers to launder the undeclared flat in London worth Rs 2,000,000, which was not owned by him but an offshore company.
He further alleged that Khan was involved in evasion of taxes, as he did not declare sources of income and expenses, and played a fraud with the people of Pakistan by dishonestly concealing assets.
Abbasi contended that the subsequent investment by Imran from the sale of flats were illegal and liable to be probed and taxed under Income Tax Ordinance, 2001 by the FBR adding that Khan had gifted Rs 6.5 million to his ex-wife Jemima Khan in 2001-2002 with that amount she purchased 45 kanals in Mohra Noor, Bani Gala, Islamabad.
The averment s were made against the FBR to the effect that the board has failed to discharge its duty as per law in relation to various financial irregularities/misconducts alleged to have been committed by Khan. With the allegations, a prayer has also been made by PML-N’s leader that the FBR be directed to probe and investigate into financial non-declarations and tax evasion of Khan.
However, FBR Member (legal) Hafiz Muhammad Ali Indhar submitted a concise statement on behalf of FBR, the respondent in the petition against Khan, terming the allegations relating to its failure in discharging its duty correctly. The FBR informed the top court that the Board issued a notice to Khan under section 176 of the Income Tax ordinance (ITO) 2001.
It further stated that the Board submitted its reply on the basis of the information so far available. But the proceedings are being undertaken. FBR further stated that it is keeping itself vigilant to any other information and exploring all available resources to investigate the matter further.
