Tax fraud case: Bail plea hearing fixed for Sept 21

KARACHI: The hearing of a Special Criminal Bail Application filed by a facilitator in a tax fraud case is fixed for September 21, 2015 at High Court of Sindh.

According to details, Directorate of Intelligence and Investigations, Inland Revenue was tipped that a number of persons are engaged in the business/ manufacturing of textile related goods  and are misusing the provisions of SRO 1125 (1) 2011 dated 31-12-2011 which constitutes an offence of ‘ tax fraud.

The Directorate conducted a desk inquiry during which it was noticed that M/S Asian Textiles, a unit registered with the Regional Tax Office, Karachi is evading advance tax. The Inalnd Revenue authorities arranged a physical check of the declared address of the importer i.e  D 67, Fareed Colony Sector 15-D, Korangi Karachi which was found vacant.

The investigations revealed that Asian Textile  is importing yarn of polyster, nylon, viscose and metallic thread and during retrieval of date, Sales Tax returns and Goods Declarations (GDs)  of imports from official web-portal of FBR during the period of Feb 2014- Sept 2014,  a loss of rupees 4,853,958 has been caused to the national exchequer. The Directorate of Intelligence lodged a FIR Crime No ST/AD-A 2014-15/01 under section 2(37) of the Sales Tax Act 1990. The offences were punishable under clause 33 along with default surcharge under section 34. The applicant accused Owais was arrested by the Customs and Taxation officials while the principle accused are identified as Abdul Ghani Khanani and Iqbal Hassan.

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