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SHC bars tax dept from taking action against M/s Lakson Money Market Fund

SHC bars tax dept from taking action against M/s Lakson Money Market Fund

KARACHI: The Sindh High Court (SHC) has directed the tax authorities not to take any coercive measures against M/s Lakson Money Market Fund for recovery of disputed amount.

While the hearing of the petition, a two-member bench, headed by Justice Aqeel Ahmed Abbasi, also issued notices to the Commissioner Inland Revenue Zone-I, Large Taxpayers Unit-II, and others, directing them to file their respective para wise comments on the next date of hearing.

Earlier, counsel for the petitioner stated that it always fulfils all the legal requirement and pays liabilities properly. However, the respondent passed an order for recovery of the disputed amount. Being aggrieved, the petitioner filed an appeal along with stay application before concerned authority which is pending for disposal, however, petitioner has apprehension of coercive action from tax department.

Citing Ministry of Finance, Chief Commissioner Inland Revenue Large Taxpayers Unit-II, Regional Tax Office (RTO) Karachi and others as respondents, he pleaded the court may restrain them from taking any action against the petitioner till final decision of its appeal.