LAHORE: The Lahore High Court (LHC) on Friday dismissed a petition challenging the Federal Board of Revenue’s (FBR) audit notice issued to PTI estranged leader Jahangir Tareen’s sugar mills.
Justice Raheel Kamran Sheikh heard the petition filed by the JWD sugar mills. The court dismissed the plea after hearing arguments of the petitioner’s lawyer.
The petition stated that the Federal Board of Revenue (FBR) sent a notice for conducting an audit of the mills’ accounts on May 21. The record and documents regarding income tax have been sought by the board, it added.
“The Federal Board of Revenue (FBR) have no powers to conduct an audit of the five-year-old accounts,” the petitioner argued and pleaded with the high court to declare the audit notice void and restrain the tax body from taking any punitive action against the mills.
After a preliminary hearing on Tuesday, the high court had granted a stay order, suspending the operation of the notice till further orders and restrained the FBR from taking a final decision on its audit notice.