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Section 4B of Income Tax Act challenged in SHC

Section 4B of Income Tax Act challenged in SHC

KARACHI: Sindh High Court has ordered issuance of notices to respondents in a fresh challenge to Section 4B of the Income Tax Ordinance under which ‘Super Tax’ on persons having income above Rs500 million was imposed.

A counsel from Franklin Law Associates appearing for the petitioner Tariq Rafi, owner of Ocean Tower and five others prayed to the court to suspend recovery notices on ground that such a tax cannot be imposed at the strength of the Finance Act. The tax was to be used for welfare of the internally displaced people.

The bench today after initial arguments issued notices to respondents for Dec 19 when another identical petition is fixed for hearing. An interim stay is operating in this petition.