AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

The Supreme Court of Pakistan has constituted a special bench to clear the backlog of pending cases relating to customs, sales tax, income tax and central excise.
CBR Chairman Abdullah Yusuf told Public Accounts Committee (PAC) that he personally requested the Chief Justice of Pakistan for early decision on tax-related cases. A special bench has been set up, which would start working from mid-December 2005 to finalise all tax-related cases in litigation. The bench would continue hearing till all the cases are disposed of.
The decision on cases of similar nature at the level of Supreme Court would substantially reduce litigation at the level of High Court and Income Tax Appellate Tribunal (ITAT). The verdict of the superior court would be used as precedence by the legal experts dealing such cases at lower judicial fora.
The CBR chief said that he also met Minister for Law, Secretary Law and Chairman Income Tax Appellate Tribunal to streamline system for disposal of pending cases at the level of tribunals. Tax authorities are making efforts to reduce pendency of appeals at the level of high courts and ITAT.
In this regard, task force has been formed to examine cases where appeals have been filed by the department for pursuing them on merit. Appeals having no merit would be withdrawn to reduce litigation.
The CBR wants to reduce litigation at any cost, which is reflected from some of these steps. The CBR has already disposed of all cases at the first level of Commissioners of Income Tax (CIT), Appeals. The department is also trying to engage more competent lawyers to pursue important cases, he maintained.
Chairman CBR said: "It is the right of the taxpayer to go for the next forum for filing of appeal against the decision of CIT, Appeals."
CBR Member Income Tax Salman Nabi explained the CBR representation at different level of courts from ITAT to the Supreme Court.

Copyright Business Recorder, 2005

Comments

Comments are closed.