Wednesday , December 19 2018
Breaking News
Home / Karachi / SHC seeks comments on petition filed by M/s Dawood Hercules Corporation
SHC seeks comments on petition filed by M/s Dawood Hercules Corporation

SHC seeks comments on petition filed by M/s Dawood Hercules Corporation

KARACHI: The Sindh High Court (SHC) directed customs officials to make sure filing their para-wise comments on a petition filed by M/s Dawood Hercules Corporation Limited against imposition of super tax imposed by officials of the Federal Board of Revenue (FBR).

On November 16, 2018, a two-member bench, headed by Justice Aqeel Ahmed Abbasi, was hearing the matter.

During the hearing, counsel for the petitioner stated in its petition that petitioner is a private limited company, duly incorporated in Pakistan under Companies’ Ordinance 1894. The company is engaged in making equity investments in companies with high growth potential.

He argued that petitioner is aggrieved by the imposition of super tax through Section 4-B of the Income Tax Ordinance, 2001 for tax year 2016 4B of the income Tax Ordinance, 2001 for Tax Year 2016 and 2017. The respondents hasve issued the demand notice without any show-cause notice or any demand order. The petitioner challenges the vires of this section in its entirety.

He argued that issuance of notice for demand of super tax without prior issuance of show-cause notice and without passing of order is in complete violation of Article 10-A of the constitution and also deprives the petitioner of its right to statutory appeals if so preferred or applicable.

Citing Chairman Federal Board of Revenue, Commissioner IR, Zone-01, Large Tax Payer Unit LTU Karachi, Officer IR, D.C.I.R (E&C) Unit-03, Range B and others as respondents, he pleaded the court to declare that issuance of said impugned SCN is illegal, mala fide and arbitrary.

He also pleaded the court to restrain the respondents, their agents and cronies from taking any adverse action against the petitioner under Section 4-B of the Ordinance 2001 and restrain them from taking any coercive measures pursuant to the impugned show-cause notice.