LAHORE – The Lahore High Court (LHC) was told on Thursday that Bahria Town Pvt Ltd embezzled an amount of Rs2.59 billlion in income tax in 2006 and the same practice continued in subsequent years.
The court has been urged through a writ petition to decide the matter before June 30 because the issue of embezzled amount would become time-barred after that.
Following the request, Justice Ijazul Ahsan sought appearance of the concerned officials of the Federal Board of Revenue (FBR) and a reply on the petition. Advocate Shahid Pervez Jami, who filed the petition, submitted that Malik Riaz had not shown to the FBR the actual amount of the property.