The Directorate of intelligence and investigation, Inland Revenue, Karachi, has arrested a renowned textile 'tycoon' of Karachi involved in tax evasion by alleged misusing the benefits of various SROs, especially SRO 1125. Sources told Business Recorder here on Monday that the Directorate had conducted an operation against the units involved in serious violation of SRO No 1125(I)/2011 dated 31-12-2011.
The details of the cases revealed that Directorate of Intelligence and Investigation, Inland Revenue, Karachi had received credible information that a number of persons were engaged in the business of manufacturing/import of textile-related goods and misusing the provisions of SRO-1125(I)/2011 dated 31-12-2011 to cause harm to national exchequer by committing tax fraud with the connivance of some scrupulous persons.