AGL 40.01 Decreased By ▼ -0.20 (-0.5%)
AIRLINK 127.00 Decreased By ▼ -0.64 (-0.5%)
BOP 6.69 Increased By ▲ 0.02 (0.3%)
CNERGY 4.51 Increased By ▲ 0.06 (1.35%)
DCL 8.64 Decreased By ▼ -0.09 (-1.03%)
DFML 41.04 Decreased By ▼ -0.12 (-0.29%)
DGKC 85.61 Decreased By ▼ -0.50 (-0.58%)
FCCL 33.11 Increased By ▲ 0.55 (1.69%)
FFBL 66.10 Increased By ▲ 1.72 (2.67%)
FFL 11.55 Decreased By ▼ -0.06 (-0.52%)
HUBC 111.11 Decreased By ▼ -1.35 (-1.2%)
HUMNL 14.82 Increased By ▲ 0.01 (0.07%)
KEL 5.17 Increased By ▲ 0.13 (2.58%)
KOSM 7.66 Increased By ▲ 0.30 (4.08%)
MLCF 40.21 Decreased By ▼ -0.12 (-0.3%)
NBP 60.51 Decreased By ▼ -0.57 (-0.93%)
OGDC 194.10 Decreased By ▼ -0.08 (-0.04%)
PAEL 26.72 Decreased By ▼ -0.19 (-0.71%)
PIBTL 7.37 Increased By ▲ 0.09 (1.24%)
PPL 153.79 Increased By ▲ 1.11 (0.73%)
PRL 26.21 Decreased By ▼ -0.01 (-0.04%)
PTC 17.18 Increased By ▲ 1.04 (6.44%)
SEARL 85.60 Decreased By ▼ -0.10 (-0.12%)
TELE 7.57 Decreased By ▼ -0.10 (-1.3%)
TOMCL 34.39 Decreased By ▼ -2.08 (-5.7%)
TPLP 8.82 Increased By ▲ 0.03 (0.34%)
TREET 16.82 Decreased By ▼ -0.02 (-0.12%)
TRG 62.55 Decreased By ▼ -0.19 (-0.3%)
UNITY 27.29 Decreased By ▼ -0.91 (-3.23%)
WTL 1.30 Decreased By ▼ -0.04 (-2.99%)
BR100 10,112 Increased By 26 (0.26%)
BR30 31,188 Increased By 17.5 (0.06%)
KSE100 94,996 Increased By 232 (0.24%)
KSE30 29,481 Increased By 71 (0.24%)

The Lahore High Court (LHC) here on Monday hearing appeals of Sharif family against notices of tax department for tax evasion asked its counsel to provide details legal heirs of Muhammad Sharif (late) on next hearing to be fixed by office.
The court observed that Muhammad Sharif, father of Sharif brothers, had also filed appeal but since he had been died, details of his legal heirs should be submitted in the court.
The appeals were filed by Mian Nawaz Sharif and his wife Kalsoom Nawaz, Mian Shahbaz Sharif and his wife Nusrat Shahbaz, Hamza Shahbaz, Mian Tariq Shafi and Mian Javaid Shafi. The accused Sharif family of evading tax of Rs 650 million during years 1990 to 2000 and also imposed penalty on them.
Malik Tariq Aziz, counsel for Sharif family submitted that about Nawaz Sharif case that the tax department never disclosed as to what amount of tax was due from him and it was a vague notice, which did not have legal sanctity. He said the order of income tax commissioner was repugnant and inconsistent with section 3 & 4 of Wealth Tax Act 1963 which states that no penalty or additional tax can be imposed during the pendency of appeal. And the appeals of the petitioners were pending for the last seven years.
He said Kalsoom Nawaz and Shahbaz had paid the income tax during the stipulated time and no objection was raised against it at that time. Counsel said the notices were issued to petitioners after year 2000 and the objection about the tax assessment was raised about 1213 days instead of the normal 60 days required period.
He further said that the re-opening of the case was illegal, as the tax department already accepted the tax and now it could not raise any objection. He said the show cause notice was not issued to the petitioners, which were necessary before taking any action. Malik pleaded that the notice was violation of the section 177 of Income Tax Ordinance and requested the court to declare the assessment made by the department after such a delay as illegal.

Copyright Business Recorder, 2010

Comments

Comments are closed.