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FTO postpones hearing of case filed by M/s Colony Mills

FTO postpones hearing of case filed by M/s Colony Mills

LAHORE: The Federal Tax Ombudsman (FTO) has postponed the hearing of a case filed by M/s Colony Mills Limited, Multan against the Large Taxpayer Unit (LTU) until the next date of hearing.

According to the details, FTO Consultant (I&M) Tariq Yousaf heard the case number 55/Mn/IT (34)/455/2016 filed M/s Colony Mills Limited, Multan in which the counsel for the appellant argued that Large Taxpayer Unit (LTU) had failed to satisfy the appellant in refund case.

He added that the LTU collected excessive tax from M/s Colony Limited during the last three years. He approached the officer concerned of LTU many time for issuance of the refunds but the LTU officials did not pay the refunds after the passage of reasonable time.

At the end, the appellant decided to approach the Federal Tax Ombudsman (FTO) seeking interference in this case. The counsel appealed the FTO advisor to direct the LTU to clear the refund claims.

The counsel further said that the delay in issuance of refunds put burden on the taxpayers, adding that the LTU should make audit of the cases and release the extra amount collected by it from the taxpayer.

After hearing the arguments from both sides, FTO adjourned the case until next date for further hearing and directed the parties to appear on said date to present arguments in the case.