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SHC will hear petition filed by commissioner IR LTU on May 10th

SHC will hear petition filed by commissioner IR LTU on May 10th

KARACHI: Sindh High Court fixed 10th May 2016 as date of hearing of an application filed by Commissioner of Inland Revenue, Zone – II Large Taxpayers Unit against tax evasion.

The SHC division bench, comprising Justice Munib Akhter and justice Abdul Malik Gaddi, was hearing the application against M/s Aluminum Processing Industries.

Earlier, the counsel for applicant stated that during the investigation and audit on 26th August 1999, huge quantity of raw material consisting of aluminum scrape / stab, was found lying in the godown. It added that the godown was not recorded in the purchase register and that the M/S Aluminum Processing Industries had remained unable to produce any purchase documents regarding unrecorded stocks of Aluminum slab/ scrap of raw material stock of 1600 metric tones valuing Rs. 47.37 million.

The counsel said that taxpayer had evaded sales tax amounting to Rs. 8,550,000 and extra tax of Rs. 570,000 which was recoverable from the taxpayer along with the additional tax amounting to Rs. 920,000 under section 36 (1) read with 54 of the sales tax Act, 1990.

The applicant argued that it had issued show cause notice to the respondent bur instead of paying dues, it filed an appeal before the Appellate Tribunal Inland Revenue which was accepted.

The Counsel prayed to the Court to set aside the order of the Appellate Tribunal.