logo
#

Latest news with #MohammadAzamKhan

FBR recovers Rs600bn as IHC vacates stay orders in 270 cases
FBR recovers Rs600bn as IHC vacates stay orders in 270 cases

Business Recorder

timea day ago

  • Business
  • Business Recorder

FBR recovers Rs600bn as IHC vacates stay orders in 270 cases

ISLAMABAD: In the last few months, the Islamabad High Court (IHC) has vacated stay orders in 270 tax-related cases that had incapacitated Federal Board of Revenue (FBR) to recover more than Rs600 billion. These 270 tax-related cases were pending in the IHC for over two decades. According to the details, three IHC division benches decided these tax-related matters. The division bench of Justice Mohammad Azam Khan and Justice Raja Inaam Ameen Minhas decided an overwhelming majority of 173 of tax cases involving Rs424bn. Another IHC bench comprising Justice Babar Sattar and Justice Sardar Ejaz Ishaq Khan cleared 94 cases in which over Rs150bn recoveries were stalled. A bench comprising acting IHC Chief Justice Sardar Mohammad Sarfraz Dogar and Justice Raja Inaam Ameen Minhas lifted the stay orders and decided three petitions that had in 2023 restrained the FBR to collect Rs36bn. A two-member division bench comprising Justice Mohammad Azam Khan and Justice Raja Inaam Ameen Minhas decided 125 cases related to Income Tax References, Sales Tax References and Foreign Exchange Regulations Act. The government's recoverable Rs290.51bn were stuck in 125 cases related to ITR. 36 STR cases involved recovery of Rs131.55bn while Rs3.16bn were recoverable in 12 cases related to FERA. In February this year the Prime Minister met with Chief Justice of Pakistan (CJP) Yahya Afridi to discuss the agenda of the upcoming meeting of the National Judicial Policy Making Committee. During the meeting, the Prime Minister requested the CJP for expeditious disposal of tax-related cases. The IMF Governance and Diagnostic Assessment teams visited Pakistan to examine the governance structure of several ministries related to fiscal policy, tax policy, corruption, procurement, audits, and anti-money laundering. The NJPMC also advised for swift disposal of the tax-related matters, in its meeting held in April, asking the high courts to constitute special benches for expeditious disposal of tax-related cases. Following NJPMC's advice and directions issued by the apex court in the tax matters, the IHC Judicial Registrar put up a note before the acting CJ for consolidation of all the matters. Copyright Business Recorder, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store