8 Billion Rupees Tax matter decided by Supreme Court of Pakistan

On 10th March 2020, the Honourable Supreme Court of Pakistan decided following Civil appeals with a joint order, in which more than Rs. 8 Billions Revenue was involved.

Mr. Irfan Mir Halepota, Advocate Supreme Court of Pakistan was representing the FBR, Federal Board of Revenue in these Civil Appeals.

Honourable Bench of Supreme Court of Pakistan ordered that After arguing the matter at some length, learned counsel for the parties and so also Mr. Masood Akhtar, The Chief Legal-1, Federal Board of Revenue (FBR), the petitioner, submit that the instant appeals be disposed off with an observation that the revenue authority may issue fresh notices, in respect of the demand in question, after giving reasons for initiating the process beyond the period prescribed for preserving the record, in terms of Section 174 of the Income Tax Ordinance, 2001, the notices shall disclose the amounts due, and if possible also indicate the names of the relevant parties. The entire exercise shall be concluded till 30th June, 20202. The respondents shall fully cooperate in the above endeavor of the revenue authority and shall not seek to delay the matter in any manner whatsoever. The appeals stands disposed off in the foregoing Terms.