Latest news with #Rs9.7
Business Recorder
3 days ago
- Business
- Business Recorder
3 big cases: IHC allows FBR Rs36.14bn tax recovery
ISLAMABAD: Islamabad High Court (IHC) has given orders in favour of the Federal Board of Revenue (FBR) allowing tax recovery to the tune of Rs36.14 billion in three big cases during last week. Details released by the Ministry of Finance on Monday revealed that in a significant legal breakthrough, the FBR has secured court decisions in its favour involving cases worth Rs36.14 billion, following strict directives from Prime Minister Shehbaz Sharif. Through improvement in tax recovery procedures, the FBR has been able to get decisions in favour of the FBR. These cases to the tune of trillions are pending in High Courts and major bottleneck in tax recovery proceedings against the taxpayers. Law promulgated for sudden tax recovery The IHC last week ruled in favour of FBR in multiple long-pending cases, including three major tax disputes. The Ministry of Finance stated that the most important among them was the case against Bahria Town (Pvt) Ltd, where the court upheld a recovery of Rs26.446 billion in favour of the FBR. This particular case had been pending in appellate forums since last over two and a half years. Two other corporate cases, collectively valued at Rs9.7 billion, were also decided in favour of the tax authority. The success follows a comprehensive legal strategy implemented under the prime minister's instructions to resolve long-standing litigations that had locked up trillions of rupees in revenue. These legal wins are being hailed as a testament to the government's commitment to economic reforms and effective revenue collection. According to the Ministry of Finance, these developments mark a major milestone in unblocking stalled revenue and reflect the FBR's improved legal capacity under enhanced governmental oversight. Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Business
- Business Recorder
FBR recovers Rs36.14bn in legal victories, including major win against Bahria Town
The Federal Board of Revenue (FBR) has made significant legal victories, including a major win against Bahria Town (Private) Limited, unlocking revenue to the tune of Rs36.14 billion previously stuck in litigation. The development comes amid special interest and firm instructions from Prime Minister Shehbaz Sharif to improve FBR's legal strategy and push for results in court, the Ministry of Finance said in a statement on Monday. 'FBR has significantly improved its legal framework and achieved major success in resolving long-pending cases. 'Acting on the PM's directives, FBR vigorously pursued pending cases in the Islamabad High Court. As a result, last week the court ruled in favor of FBR in cases collectively valued at Rs36.14 billion,' read the statement. Malik Riaz has occupied govt, private lands: NAB Among last week's major wins for the federal tax collecting authority were three high-value tax cases, with the most significant being the case against Bahria Town (Private) Limited. 'In this case, the IHC upheld a recovery decision in favour of FBR amounting to Rs26.446 billion.' The case had been pending at various appellate forums for the past two and a half years. Moreover, in two other corporate cases involving a total of Rs9.7 billion, the IHC also ruled in FBR's favour. 'These victories are clear evidence of the government's commitment to economic reforms,' read the statement. According to the Ministry of Finance, revenue to the tune of trillions of rupees remains stuck in various legal disputes, hindering national revenue collection. Thus, a coordinated legal strategy was developed for representation and litigation, which has now started yielding notable results for FBR, it added.
