LAHORE: The Directorate of Intelligence & Investigation (IR) sprung into action against Innovative Biscuits (Pvt.) Limited after the department received credible information related to sales tax fraud against.
An assessment order was issued wherein an amount of Rs. 4.27 billion as sales tax along with default surcharge and 100% penalty for tax fraud was imposed upon the registered person
Accordingly, accused Sheikh Munir Hussain, one of the Directors of Innovative Biscuits (Pvt.) Limited. was arrested. Due to proper presentation of the case by the Directorate of Intelligence & Investigation (IR). Lahore, two bail applications filed by the accused were rejected by Special Judge. Subsequently. the accused filed another application for bail before Lahore High Court. The Lahore High Court, Rawalpindi Bench, Rawalpindi granted post-arrest bail to the petitioner on a deposit of an amount of Rs. 300 (Million) and submission of post-dated cheque of Rs. 100(Million). The legal process is underway against the accused.
The press release regarding the issue read, “IR directorate-general has performed commendably well in the current Financial Year from July-2020 to April 2021. The Directorate General has forwarded 653 Investigation Reports involving revenue of Rs. 197,714 million to the field formations. The Directorate General conducted 40 raids where estimated revenue amounting to Rs. 761 million is involved. Directorate General filed 67 complaints under Anti-Money Laundering Act, 2010 against 75 accused persons involving Rs. 55.385 million. Directorate General also seized 6667 cartons of illegal cigarettes.”