KARACHI: Javed Karim Sebhai, Muhammad Wasiq and Hoshing P. Sidhwa son of Masin G. Sidhwa, directors of M/s Shaheen Air International Ltd surrendered themselves before the customs court after getting protective bail from the Sindh High Court (SHC). They were allegedly involved for alleged tax fraud by failure to deposit government dues amount of Rs955,050,000, deducted/withheld from the customers/passengers and failed to e-file sales tax returns till date.
On September 6, 2019, counsel for accused persons appeared before the court along with their counsels and surrendered themselves and moved pre-arrest bail petitions.
Counsel argued that their clients are innocent and have been falsely implicated in this case, who are ready to face trial and furnish surety and SHC has granted their protective bail for 15 days, therefore, as per court orders they came here to surrender and seek pre-arrest bail.
After the hearing, court granted their interim pre-arrest bail against Rs3,00,000 and directed them to appear before the court for confirmation or otherwise.
According to the first information report (FIR), a team authorized by commissioner-IR, Karachi was deputed to recover the government dues and every legal course was adopted to get hold of the revenues, however, the department was unable to recover the same and presently the above-taxpayer has closed down his operations and the registered office is found closed.
Investigation officer has submitted that registered persons are a non-operational fraudster unit, and jointly committed the tax fraud by escaping from the premises, closed down the operations and fraudulently avoided to pay sales tax & federal excise duty. By committing this tax fraud, they have deprived the government exchequer of its legitimate revenue to the tune of Rs 7,433,869,356 (out of which Rs 955,055,000 is recoverable and no stay has ever been granted by the court of law).
He argued that taxpayer has thus violated the provisions of sales tax act, 1990 & federal excise act, 2005 and FIR is lodged accordingly against complainant by Irfan Ahmed, inspector Inland Revenue. Further, investigation in respect of directors of the company, owners of declared premises, properties of the company is in progress.