ISLAMABAD: Directorate General Inland Revenue (IR) Intelligence and Investigation (I and I) has found billion of rupees transaction of Prism Estate and Builders accounts, it is learnt here.
According to sources, the Directorate IR has revealed that owner of Prism Estate and Builders Islamabad Masood ul Hassan Alvi has a large scale business and living a luxury life, but he never submitted tax returns.
Sources added that Masood ul Hassan Alvi is a property dealer.
Sources added that Alvi has accounts in 19 different banks and he opens accounts on his employees’ names to show his business as low. Sources also said that the Prism Estate and Builders owner and employees banks accounts data showed Rs 422 million of initial transaction while monthly turnover is 11.40 million.
Sources added that Directorate IR I and I is ready to registered a criminal case against him.
