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Lahore High Court suspended Federal Board of Revenue’s notice to audit Jahangir Tareen sugar mills

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Lahore High Court suspended Federal Board of Revenue’s notice to audit Jahangir Tareen sugar mills

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What happened:  On Monday, The Lahore High Court suspended a notice issued by the Inland Revenue department of the Federal Board of Revenue (FBR) to a sugar mill of Pakistan Tehreek-i-Insaf’s senior leader Jahangir Khan Tareen for audit.

Why: The JDW Sugar Mills had filed a petition and submitted through its counsel that the FBR launched an audit of the five-year-old accounts of the company in light of the report of a sugar inquiry commission.

He argued that the board, under the law, could not hold an audit of accounts beyond five years.

Justice Jawad Hassan suspended the impugned notice and sought a reply from the FBR by next week

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