KARACHI: The Sindh High Court (SHC) granted protective bail to suspect namely Hoshing P. Sidhwa son of Masin G. Sidhwa, former director of M/s Shaheen Air International Ltd and booked for alleged commission of tax fraud by failure to deposit government dues amount to Rs955,050,000 deducted/ withheld from the customers/ passengers and has failed to e-file sales tax returns till date.
On September 02, 2019, counsel for accused person appeared before a single bench and argued that his client is innocent and has been falsely implicated in this case, who is ready to face trail and wants appear before the trail court, however, he has apprehension of arrest, therefore, court may protective bail and restrain FBR’s officials for his arrest.
After the hearing, court granted his protective bail against Rs50,000 for 15 day and directed him to surrender before the trail court with 15 days.
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 its operations and the registered office is found closed.
Investigation officer has submitted that registered persons is non-operational fraudster unit, has 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 government exchequer of its legitimate revenue to the tune of Rs7,433,869,356 (out of which Rs955,055,000 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 complainant by Irfan Ahmed, inspector Inland Revenue, further, investigation in respect of directors of the company, owners of declared premises, properties of the company are in progress.