LAHORE: The Federal Board of Revenue (FBR) Regional Tax Office-I (RTO-I), Lahore is planning to challenge the Lahore High Court Verdict in Sharif family tax case in Supreme Court of Pakistan, Customs Today learnt here.
Sources claimed that in the next few days, the department will take a decision on it whether to file a petition or not against the verdict of LHC.
As per details, a two member bench of LHC comprising Justice Abid Aziz Shiekh and Justice Shahid Karim had suspended the 19 years old decision of Income Tax Appellant Tribunal against the Sharif family and the directors of the Ittefaq Founderies.
Sharif family had filed the appeal in 1996 against the assessment made by the Income Tax Department and a judgement passed by an appellate tribunal upholding the assessment of the department.
The counsel for appellant took stand that these cases have been made against its client on political pressure and allegations have no any grounds.
The appellants also added that the objection on assessment was raised after over 40 months instead of the 60-day stipulated period and asked the court to announce the assessment illegal.
While, counsel for the Income Tax Department argued that appellant had used political influence to suppress the case.
However, the court observed that department was not able to prove that appellant imposed any political influence over tribunal to change the facts.
Therefore, court set aside the decisions of Income Tax Tribunal passed on July 16, 1995 and December 2, 199
