SC seeks updates on Sharif family’s appeals against levy of wealth tax

By: News Desk      Published: 12:22 PM, 25 Jan, 2021
SC seeks updates on Sharif family’s appeals against levy of wealth tax

The Supreme Court (SC) Monday directed counsel for the Federal Board of Revenue (FBR) to update it on the status of appeals filed by the Sharif family against the levy of wealth tax, reported 24NewsHD TV channel.

A three-member bench of the apex court headed by Justice Umar Ata Bandial, headed by Justice Umar Ata Bandial, heard a wealth tax case against the Sharif family.

The court was told by the FBR’s lawyer that due to the late payment of tax, the Sharif family was issued the notice of additional tax, which the family challenged in the Lahore High Court (LHC).

Justice Umar Ata Bandial asked as when Sharifs had requested for the tax refund.

Justice Sajjad Ali Shah in his observation said that the FBR had issued first notice to the Sharifs in 1997, and then issued the notice of additional tax after an interval of five years in 2002.

“Why did the Bureau keep waiting for five years?” he asked.

Justice Munib Akhtar inquired from the FBR’s lawyer as to what had become of the Sharif family’s appeals against the levy of wealth tax. “The Tax Appellant Authority may have decided in favour of the Sharif family,” he surmised.

Counsel sought time from the court for getting fresh instructions from the FBR in the case.