Wealth tax levy: SC seeks details of Sharif family’s appeals

ISLAMABAD: The Supreme Court (SC) on Monday directed the counsel for the Federal Board of Revenue (FBR) to submit details over status of appeals filed by the Sharif family against the levy of wealth tax.A three-member SC bench headed by Justice Umar Ata Bandial and comprising Justice Sajjad Ali Shah and Justice Munib Akhtar heard the case filed by the Sharif family against the levy of wealth tax. During proceedings, the FBR counsel said the FBR issued a notice of additional tax to the Sharif family over late payment. The Sharif family challenged the FBR notice before the Lahore High Court (LHC), he added.

Justice Bandial asked the counsel when the Sharif family had filed an application for the tax refund. Justice Sajjad Ali Shah said the FBR had issued the first notice to the Sharif family in 1997, and then issued the notice of additional tax after five years in 2002. He asked why did the FBR keep waiting for five years? Justice Munib Akhtar asked the FBR counsel to inform the court about the status of appeals filed by the Sharif family against the levy of wealth tax. He said the Tax Appellant Authority might have decided in favour of the Sharif family. He said that the Sharif family filed the petition in the LHC on additional tax. The counsel sought time from the court for getting fresh instructions from the FBR in the case.