Islamabad High Court has dismissed a private bank's petition regarding Rs 11 billion super tax due to the availability of an effective alternative legal forum, reported 24NewsHD TV Channel.
Islamabad High Court Justices Muhammad Azam Khan and Inam Amin Minhass have issued the detailed judgment.
Islamabad High Court further observed that the Federal Constitutional Court has conclusively settled the legal question regarding the application of Section 4-C of the Income Tax Ordinance.
Farogh Naseem represented Meezan Bank in the case. Hafiz Ehsan Ahmed Khokhar assisted the court on behalf of the Federation and the FBR. The court also cleared the stay order previously issued in favor of the private bank.
The court observed that show-cause notice issued by the Additional Commissioner Inland Revenue, LTO Karachi, has already been disposed of via a final order.
The petitioner has filed an appeal with the Appellate Tribunal Inland Revenue against the said order. The Income Tax Ordinance provides a comprehensive appellate system comprising specialized forums for the resolution of tax disputes; said the IHC.
The petitioner acknowledged and availed themselves of the legal procedure provided under the ordinance. The court observed that once the petitioner has resorted to a forum for legal appeal, they cannot simultaneously file a constitutional petition regarding the same matter.