LAHORE: Justice Shahid Karim of the Lahore High Court (LHC) has directed the Commissioner Appeals, Inland Revenue, to decide within two months an application against the income tax recovery notice to Shamim Sugar Mills, owned by the Sharif family, and also decide on the application seeking stay against the recovery notice.
The counsel for the sugar mills submitted that the Federal Board of Revenue (FBR) had sent the income tax recovery notice to Shamim Sugar Mills amounting to Rs6.629 million in May 2019, which pertained to the year 2014.
However, the Inland Revenue Tribunal issued stay order against the notice on July 30 on the condition that five per cent of the total amount should be paid in advance. The appeal against the FBR notice was still pending before the tribunal which should be expedited to provide relief to the petitioners.
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