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FTO postpones hearing of M/s Jeway Median Steel until next date

FTO postpones hearing of M/s Jeway Median Steel until next date

LAHORE: The Federal Tax Ombudsman (FTO) has adjourned the hearing of a case filed by M/s Jeway Median Steel Furnace against the Regional Tax Office (RTO) Sialkot until the next hearing.

FTO Mazhar Farooq Shirazi heard the case. The counsel for the appellant argued that the RTO had failed to release the sales tax refunds since two years.

He said the RTO has been collecting excessive tax from Basit Adnan, M/s Jeway Median Steel Furnace, for the last two years. He approached the commissioner concerned many times for release of refunds but the RTO officials failed to address the issue even after the passage of a reasonable time.

At the end, the company decided to move the FTO seeking intervention in the case. The counsel appealed the FTO advisor to direct the RTO to clear the refund claims. The counsel further said the RTO should refund the excessive collection in the wake of taxes by the end of financial year but the situation is quite otherwise. Delay in release of refunds puts the burden on taxpayers, he said, adding the RTO Sialkot should audit the cases and release extra amount collected from the taxpayers.

On the other hand, counsel for the RTO argued that the appellant M/s Jeway Median Steel Furnace has not submitted all the record to the office on the basis of which it is claiming refunds.

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