SHC strikes down section 5 of the Income Tax Ord 2001

KARACHI: An appellate bench of High Court (SHC) struck down section 5(A) of the Income Tax Ordinance 2001 for being ultra vires of the Constitution. The bench in its judgment declared that insertion of section 5A in the Income Tax Ordinance 2001, including amendments thereto from time to time, does… Continue reading

SHC allows ITRAs, petitions by AKUH Doctors

KARACHI: A number of Income Tax Reference Applications and constitutional petitions filed by Dr. Zafar Sajjad against Commissioner Inland Revenue Zone-I Regional Tax Office-III Karachi impunging show cause notices issued to them. The controversy pertains to the definition of term “salary” and that whether other emoluments including clinical supplements and… Continue reading

SHC dismisses SCRAs filed by Collectorates of East (Appraisement), Port Muhammad Bin Qasim

KARACHI: Seven identical Special Custom Reference Applications (SCRA’s) filed by two collectorates of Pakistan Customs filed through Iqbal M. Khurram Advocate were dismissed by a custom appellate bench of High Court of Sindh. The main question of law proposed beside other related questions before the court was that “Whether the… Continue reading

SHC issues pre-admission notices for Aug 25

KARACHI: Pre-admission notices were issued to respondents including Commissioner Income Tax for Aug 25 in a constitution petition filed by Engro Elengy Terminal Private Limited, by a division bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan. The bench earlier heard Hussain… Continue reading

Exporters also fear about fate of other refunds of income tax, customs rebate, duty drawback as Govt. still has not released billions of rupees, GOP must clear refunds in one go or reduce GST from 17% to 4% or restore Zero-Rating reinstating SRO 1125

Textile Exporters are annoyed and distressed in the wake of highest ever liquidity crunch being faced due to imposition of 17 percent GST whose refunds are excessively delayed by the Government without any justification which has caused hurdles in export production. Anti-Export moves of the Government in the hands of… Continue reading

SCAT allows appeals in Monosodium Gluatamate case

KARACHI: Deciding three identical appeals filed by Usama Enterprises, Marhaba Trading Corporation and  Universal Trading, Special Customs Appellate Tribunal headed by its chairman/member judicial II, Mr Sajid Abbasi, allowed the same on ground of jurisdiction and delayed action by the respondent customs authorities. The respondents include Collector Custom (Appeals), Additional… Continue reading

PHMA REQUEST FOR RELEASE OF OLD DEFERRED SALES TAX REFUND & INCOME TAX REFUND CLAIMS AND RESTORATION OF RATING OF SALES TAX – NO PAYMENT NO REFUND REGIME

Pakistan Hosiery Manufacturers & Exporters Association profoundly appreciates the government’s initiative to expedite refunds to exporters under FASTER system. However, in order to ease and facilitate exporters liquidity problems in this most difficult times, PHMA also requests for release of old deferred sales tax refund & income tax refund claims… Continue reading

SHC adjourns hearing in petitions challenging detention of goods

KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan adjourned proceedings in a number of identical petitions. As the hearing in petitions commenced, counsel for one of the petitioners on a query by the court submitted that the… Continue reading

Customs restrained from coercive action against Spectrum, Kanwal Enterprises

KARACHI: A customs appellate bench of High Court of Sindh has restrained Pakistan Customs from taking coercive action against Spectrum Enterprises till Sept 19. The bench was hearing a petition filed by these importer against Directorate of Intelligence which has registered a FIR alleging evasion of Sales Tax and Income… Continue reading