KARACHI: The Sindh High Court (SHC) on Tuesday rejected the bail plea of a suspect who is involved in tax evasion of millions of rupees.
A single bench comprising Justice Hassan Azhar Rizvi dismissed the bail application filed by Owais, associated with M/s Raffia International, after hearing arguments from prosecution and defence sides.
According to the prosecution, Intelligence and Investigation Department of Inland Revenue, Karachi had found that bogus textiles companies were misusing the SRO 1125(I)/2011 to avail reduced sales tax facility by supplying goods to non-zero rated sector or unregistered persons.
The tax authorities registered an FIR against M/s Asian Textiles for misusing the SRO and evading millions of rupees in tax. Owais, who was looking after the affairs of M/s Raffia International, was cited as a suspect in the interim charge-sheet for being one of the beneficiaries of the tax fraud.
