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Tax evasion: Customs Court directs CIR to complete investigation against M/s Escord Enterprises

Tax evasion: Customs Court directs CIR to complete investigation against M/s Escord Enterprises

KARACHI: The Customs Court directed investigation officer to complete investigation against Muhammad Younus Sayani son of Muhammad Yousuf Sayani, owner of M/s Escord Industries old name Younus Enterprises and registered and un-registered accused persons, who are nominated in first information report (FIR) amounting to Rs31,312,758 sales tax evasion case.

On 18 January 2020, investigation officer of Commissioner Inland Revenue Zone-I submitted first information report (FIR) and informed the court that this office received credible information that above mentioned importer has committed tax fraud as defined under section 2(37) of the sales tax act, 1990 by obtaining illegal sales tax refund to above mentioned amount on the name of his business registered as M/s Escord industries with declared business address as Saleem Terrace, Garden West Karachi.

He further submitted that during the investigation accused person has no proof of payment/ receipts of purchases and supplies to justify hug volume of purchases and fake supplies based of these facts, it is concluded that the sole objective of the said accused persons was to claim illegal sale tax refunds on local supplies, which directly comes under the scope of tax fraud as per section 2 (37) of the sales tax act, 1990.

Investigation officer said that in this way the accused person along with other persons buyers/ suppliers have caused loss to the above mentioned amount in violation of the provisions of section 2(9) 2(37) 3, 4, 6, 7, 8, 10, 14, 22, 23, 26 and 73 of the sales tax act, 1990 and other related laws.

After the hearing court taken FIR into court record and directed investigation officer to complete investigation and submit charge sheet on next date of hearing.