HASCOL Petroleum Ltd – Case has decided in the favour

The Sales Tax appeal under Section 45-B of the Sales Tax Act 1990 decided in the favour of the Company

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Hascol Petroleum Ltd revealed an official notification issued to the Pakistan Stock Exchange (PSX) on 7th August, 2019 regarding the order under appeal dated 21-07-2019 has allowed the company’s appeal and held that since,

The action of the learned officer (Inland Revenue) is totally based on assumption and presumption, lack of reasoning and short of evidence regarding allegation of issuance of fake invoice, the impugned Order In Original dated 26-4-2019 passed by the Deputy Commissioner Inland Revenue is not sustainable in the eye of law hence directed to be annulled.

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