Karachi: The Sindh High Court (SHC) has sought comments from the FBR’s Intelligence and Investigation on a bail petition of a suspect in a case pertaining to the issuance of fake tax invoices of around Rs 1.5 billion.
A division bench of the SHC comprising Justice Sallahuddin Panhwar had taken up the bail petition filed by Muhammad Naeem who moved the court seeking pre-arrest bail in the case.
According to the details of the case, the FBR’s Intelligence and Investigation had unearthed a tax fraud where M/s Kings International was found to be involved in issuance of fake invoices, claiming refunds of around Rs 1.5 billion during October 2008 and June 2009 that caused a huge loss to the national exchequer. The tax officials had found that the office of the firm had been closed for over three years.
Later, an FIR was registered against 230 accused persons out of whom only 14 were out on bail while the rest had been declared as absconders.
