FTO dismisses real estate developer’s application against Inland Revenue

KARACHI: The Federal Tax Ombudsman (FTO) has dismissed a complaint filed by M/s Black Stone Developers against Inland Revenue for failing to issue refund for Tax Year 2017.

M/s Black Stone Developers filed a complaint against Inland Revenue for failing to issue refund for Tax Year 2017, determined vide order dated 04.04.2019, passed under Section 161 read with Sections 205 and 221 of the Income Tax Ordinance, 2001.

M/s Black Stone deriving income from real estate business filed its return of income for Tax Year 2017. However, the IR created tax demand of Rs7.553 million out of which Rs2.998 million was recovered by attaching bank account of the complainant. Being aggrieved, the complainant filed appeal before the Commissioner-IR (Appeals) Karachi who in turn remanded the case for de novo proceedings.

The department completed fresh proceedings, whereby tax demand was reduced to Rs0.065 million. It was noted that as a result of rectification order, an amount of Rs.2.932 million had became refundable. However, tax demand of Rs 44.231 million was outstanding against the complainant.

Therefore, refund amounting to Rs2.932 million was required to be adjusted against the tax liability outstanding against the Complainant for Tax Years 2014 to 2017. During hearing, the complainant sought some time to file rejoinder but failed to furnish the same and even did not attend the final complaint proceedings.

FTO noted as the unpaid demand for Tax Years 2014 to 2017 amounting to Rs44.231 million is outstanding; the department while disposing of refund application order under Section can adjust the same, after affording the complainant an opportunity of hearing, as per law.

Although, a sum of Rs44.231 million is recoverable from M/s Black Stone Developer, the Inland Revenue has not initiated any proceedings in this regard.

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