KARACHI: The Directorate of Internal Audit-Inland Revenue-FBR Karachi has identified mastermind and real beneficiary of tax fraud case of M/s Tamna Industries in which FIR was lodged last month.
On the instructions of Director General Bakhtiar Muhammad, Director Muhammad Ali formed a team led by Deputy Director Asif Ali Abro and comprising Investigation Officer Dhani Bux to investigate the case and identify the real beneficiary of the scam.
The name of mastermind is Sheikh Shahzad Ilahi who opened and operated bank accounts of M/s Tamna Industries on fake name of Nawab Zaman.
Shaikh Shahzad Ilahi is the real mastermind who misused the CNIC of Nawab Zaman a poor labourer and got opened fake company with name of M/s Tamna Industries.
Tamna Industries shown fake and bogus sales to layer companies involved in this chain of fraud to give ultimate tax benefit of billions of rupees to M/s Century Industries Pvt LTD, manufacturer of battery brand of Phoneix Batteries in Pakistan.
Hence, CEO of Phoneix Batteries Jawed Iqbal Sidiqui has also been nominated as real beneficiary in this fraud. Further investigations are underway.