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PAKISTAN’S FIRST INDEPTH NEWSPAPER ON CUSTOMS

Daily

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Karachi, Wed July 19, 2017

PESHAWAR

IRFAN BAHADUR

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he Customs Collectorate has earned double revenue in Qirst 15 days of July 20172018 as compared with the collection in the month of July 2016-2017 by the Customs House Peshawar. Talking to Customs Today Collector Qurban Ali Khan said that Customs Peshawar has

collected Rs500 millions during Qirst 15 days of July 2016-2017, while it had collected Rs 252 millions in the same period of July 2014-2015 which shows that double revenue was generated. The Collector has also called for early recovery of the delayed duties in order to increase the revenue collection target. Collector Qurban said that due to opening of closed Customs Stations the revenue collection has showed

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an up rise in the Qirst half of July 2016-2017. He said the Collectorate collected double revenue while the sales tax collections also surpassed its figure during the said period, he added He further said that the addition of more technical centers at Torkham Customs Station has decreased the leakage to the revenue collections and Customs Stuff at Torkham have been directed to assess the Importers in times of quarry.

‘Peshawar Customs collects double revenue in first half of July’

Multan Customs Adjudication settles 392 cases worth Rs540.488 million

‘Govt shouldintroduce reforms to improve business friendly image of Pakistan’

Turkish customs minister says info on $86m imported Dutch flowers ‘secret’

Gwadar Customs recovers non-duty paid goods, narcotics worth Rs 7m

The Customs Collectorate has earned double revenue in first 15 days of July | SEE PAGE 01 |

CustomsAdjudicationhasdecided392various smuggling cases of worth Rs.540.488 m | SEE PAGE 02 |

Thegovtshouldintroducestructuralreforms ineverysectoroftheeconomytoimprove | SEE PAGE 04 |

CustomsandTradeMinisterBülentTüfenkci saidtheinformationonwhichmunicipalities | SEE PAGE 07 |

Gwadar Customshas seized a huge quantity of electronic items worth Rs 7m | SEE PAGE 08 |

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Adjudication ADC issues six ONOs against smugglers Wednesday, July 19, 2017

National

FAISALABAD: Customs Adjudication Additional Collector Muhammad Saeed Asad has issued six Orders-In-Originals (ONOs) against the culprits involved in the smuggling and tax evasion of Rs11million. Sources told Customs Today that Additional Collector Saeed Asad issued an ONO in favour of the Faisalabad Customs Intelligence and Investigation and AntiSmuggling Organization (ASO) Faisalabad. The agencies conďŹ scated smuggled cloths, Indian juice, F/O cumin, and other miscellaneous goods brought into the country without payment of duty and taxes.

Multan Customs Adjudication settles 392 cases worth Rs540.488m

FAISALABAD

MULTAN

NAEEM SHEIKH

IMRAN ALI

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he Model Customs Collectorate (Mcc) Faisalabad has detected evasion of customs duty and income tax of Rs01.5million by Reliance M/S Al-Rehmat Traders (Pvt) Limited Faisalabad. Sources told Customs Today that M/s Al-Rehmat Traders (Pvt) Limited Faisalabad has neither made any import of input goods under chapter XV-Warehousing of Customs Rules 2001 notified vide SRO. 450 (1) 2001 dated 18-62001 nor has exported any consignment of output goods. The licensee has furnished an undertaking in this regard. Further the PRAL data, retrieved for the period from 1-72013 to 31-10-2016, has showed the fact that the licensee has not imported any consignment of input material during the period under audit. It is observed that the licensee has not utilized the license since 1-7-2013 and the license has expired since 30-8-2014 as per Rule 344 of the Customs Act-2001. The audit report revealed that the licensee has deposited the due amount of during the manufacturing process during the period. But licensee has failed to deposit an amount of Rs01.5million.

ustoms Adjudication has decided 392 various smuggling cases of worth Rs.540.488 million during financial year 2016-17. According to details, Customs Adjudication has conducted speedy justice by disposing off highest number of seizure cases after completion of their trial. There were 237 different seizure cases worth Rs.122.551 million settled by Deputy Collector Farhat Ali after their hearing during the economic year 2016-17. Additional Collector Customs Adjudication Talib Hussain has issued Qinal Order-in-Original (ONO) in 132 seizure cases of worth Rs193.170 million for the duration of Qiscal year 2016-17. Collector Customs Adjudication Mirza Mubashir Baig has decided 20 various seizure cases of Rs.200.715 million after conclusions during the monetary year 2016-17. Customs Adjudication has decided few tax evasion and seizure cases in favor of tax payer after collection of duty taxes and imposing penalty but majority of seizure cases were Qinalized in the favor of customs department. These tax evasion, seizure cases and contraventions were formed by the Customs Intelligence and Investigation, AntiSmuggling Organization and audit branch of the Multan Customs.

Faisalabad Customs uncovers tax evasion by Al Rehmat Traders

The Customs Adjudication Multan has also 71 pending seizure cases of Rs115.102 million from last Qiscal year 2016-17. These seizure cases were still under adjudication in the Customs Adjudication Multan of deputy collector, additional collector and collector. More than 66 seizure cases are pending from last three months for hearing in the customs Adjudication Multan. Customs Adjudication Multan have included 34 fresh seizure cases

of Rs37.377 million in the month of June which are under adjudication and in most of fresh cases showcause notices to the respondents and offenders have been issued. Customs Adjudication Multan registered 96 smuggling cases of Rs167.116 million available for their trial .Most of the cases are available for hearing at the Additional Collector Customs Adjudication. Almost 47 seizure cases of worth Rs27.595 million are available for

trial in the court of deputy collector and 19 different seizure cases of value Rs37.262 million are available to Additional Collector Customs Adjudication for hearing. Collector Customs Adjudication has only 5 various cases of Rs50.245 million available for hearing currently. Customs Adjudication Multan is facing pendency in the hearing of various seizure cases due to unnecessary delay from respondents and counsels of the accused parties during the trial.

Appraisement-West takes up to streamline SRO 1125 use

ISLAMABAD

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ollector Appraisement West Shahnaz Maqbool has approached Federal Board of Revenue (FBR) seeking clariQications pertaining to various provisions of SRO 1125(I)/2011, as the confusion created by over a dozen amendments in the SRO has left doors wide open for misuse. Shahnaz Maqbool has taken the

task to plug revenue leakage because of the misuse of concessionary regime. Sr. No.1 and 2 of Table I of SRO 1125(I)/2011 excludes the locally manufactured Qinished articles of leather and artiQicial leather and locally manufactured Qinished articles of textile and textile made ups. However, serial No. 4 of Table II allows imported Qinished goods of the Qive value added textile sectors ready for use by the general public. Shahnaz Maqbool is of the view

that Qinished goods even of the Qive sectors (e.g. shoes, garments, hand bags etc.) are not entitled to concessionary/reduced rate of value addition tax and income tax being excluded from the SRO. Even otherwise, exemption/concession on Qinished goods is not only against the spirit of SRO 1125(1)/2011, which was primarily issued to facilitate the export oriented sectors of the country, but also hampering the growth of the local manufacturing industry. There have been around dozens amendments

since 2011, which created much confusions regarding the applicability of the SRO. Commercial importers are availing beneQits under SRO 1125(I)/2011 as they are importing raw materials of the Qive export oriented sectors. Customs is bound to allow the exemptions. Customs has no access to the information to conQirm whether the importer was a commercial importer or actually a manufacturing business. Inland Revenue is responsible to maintain the record that importers availing the beneQit of SRO

are actually manufacturers or not. Moreover, Inland Revenue is responsible to maintain the record regarding consumption of importer raw material and subsequent exports. At present, import of fabric for in-house consumption by registered manufacturers of the Qive sectors is charged at zero percent under sub clause (i) of Sr. No. I of Table II of the SRO. Shahnaz Maqbool seeks clariQication whether this concession is admissible to manufacturing industry or restricted to export-oriented industry only.

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LAHORE M HAYAT www.customsbulletin.com

he government should introduce structural reforms in every sector of the economy to improve business friendly image of Pakistan and make it an attractive destination for foreign investment. These views were expressed by Mian Muhammad Nawaz, the chairman of the Standing Committee on Foreign Investment and Privatization and executive member of the Lahore Chamber of Commerce and Industry, the other day. Talking to Customs Today, he said that there was a need take bold decisions to increase investment and promote exports. He said that the governments around the world introduced a broad range of reforms during yesteryears to improve regulatory environment for local entrepreneurs. “The ease of doing business index contains lessons for the developing countries like Pakistan to improve its ranking,” he said, adding that Pakistan’s low ranking in the index should be a matter of concern for the government. The government has launched development projects in energy and infrastructure sectors by acquiring foreign loans, but there is also need to attract foreign direct investment, he said. “The foreign direct investment acts as an engine of growth and generates employment opportunities,” he said, adding that there is a need to arrest the falling exports which is severely de-

Wednesday, July 19, 2017

pleting the country’s foreign exchange reserves. He added that the country is so far been relying on the remittances sent by the expatriate Pakistanis. He said that Pakistan is the only South Asian country to have improved its overall ease of doing business ranking this year but it is still ranked 144th out of 190 countries. With a series of far reaching reforms in recent years, Pakistan has made trading across borders easier by introducing a fully automated, computerized system for the submission and processing of export and import documents, he explained. He added the ten economies highlighted by the World Bank this year for making the biggest improvements in their business regulations include Brunei, Kenya, Indonesia, Georgia and the UAE. While Pakistan has been praised for improving infrastructure and streamlining procedures such as introducing a new electronic platform for customs clearance, it is still considered a low middle income, and ranked quite low overall, Nawaz said. All economies around the world have taken steps to improve the business environment. In Bangladesh, it now analyses the business regulations in Chittagong and Dhaka; in India, in Delhi and Mumbai; and in Pakistan in Lahore and Karachi. He said that the government needs to undertake massive economic, legal and administrative reforms and bold decisions to make Pakistan attractive for investment and promote exports besides Pakistan needs to move quickly to improve its business friendly

image. In order to attract foreign investment in the country the government also needs to reform taxation system of the country besides business friendly policies would not only increase business activities in at the local level but also the foreign investors will also invest in the country, Nawaz concluded.

orld the w d n u s aro e the nomie mprov i o t All eco s tep t. In aken s nmen o r have t i v n the ss e alyses n a busine w g , it no tagon adesh n Chit i s n Bangl o i lat and Delhi s regu s n i e , n i a s i bu in Ind ahore haka; an in L t s i k a and D in P ai; and arachi Mumb and K

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Founder & Chairman Zulfiqar Ali Editor Rahil Yasin editor@customsbulletin.com.pk For advertising & subscription marketing@customsbulletin.com.pk www.customsbulletin.com Phones: 042-35781643-4, Fax: 042-35781645 Address: 627, Siddiq Trade Centre, Gulberg, Lahore

EDITORIAL

Economy in crisis

s political atmosphere is charged, the report of the joint investigation team is a warning for the elite and noble classes of the country who are habitual in using public funds for their personal gains without fear of accountability at any stage. The JIT was formed on the orders of the Supreme Court to probe defalcation charges against Prime Minister Nawaz and the team has apparently found very crucial information about his family’s business interests in offshore companies. It is not a secret that the soul of every blue blood is impregnated with corruption and there is hardly anyone in parliament who would come clean when tested on the articles of the constitution. The federal capital is now buzzing with various kinds of rumours, creating not only political instability, but also casting doubts on the future of mega infrastructure projects in the country. The economy of the country is already going in slow mode and this kind of ventures launched by certain political parties will aggravate the economic woes rather than bringing any good to the nation. In a country where corruption is institutionalized, it is very difficult to curb this menace with one stroke. Elimination of corruption is a process and it must continue in any circumstances. However, the process should not affect the growth of economy or create political uncertainty in the country. The country is facing multiple challenges which needs across the board unity among the nation. India has stepped up diplomatic offensives against Pakistan to isolate it in the comity of the nations. On another note, it has set up open and secret cells in Afghanistan and Iran to launch insurgency as well as terrorism in various parts of the country. Through close cooperation with various international secret agencies, which are also hostile to Pakistan, India has successfully labelled this country as sponsor of terrorism in the world and has distracted the attention of the world community from atrocities in occupied Kashmir. The nation needs to take a unified stand against Indian offensive. At the home front, all the political forces should join hands to find a solution to the economic and administrative problems. Political uncertainty is adversely affecting the performance of the economy and the government is already struggling to maintain financial stability in the country.

New rating of Pakistan’s economy M LAHORE

DR AFTAB AFZAL

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oody’s Investors Service has placed Pakistan at B3 with a stable outlook and senior unsecured ratings thanks to the foreign funded infrastructural projects and macro-economic stability in the country. The China-Pakistan Economic Corridor will address critical infrastructure constraints and tree-year extended fund facility program of the International Monetary Fund has continuing effects on the macrostability. However, the government has failed to generate new sources of income other than costly loans which it is extrava-

gantly obtaining from various international donor agencies. The foreign exchange reserves are maintained on the crutches of foreign loans which are piling up with every passing day. Experts believe the burden of loans is increasing, trade deficit have crossed $32 billion mark and political chaos is adversely affecting the economic growth in the country. The geopolitical situation is fragile and hostile neighbours are doing everything possible to isolate Pakistan from the rest of the world. On another note, generation of indigenous financial resources should be the first priority of the government but those who matter have never thought any-

thing on this subject at any stage. As a result, vulnerabilities of the economy are growing as full dependence on imports is closing the local industrial units at a large scale. At a time the countries in the region are registering two digit growth rates, Pakistan hardly reached 4.5 percent growth in its gross domestic project in the fiscal year ending June 2016. However, Moody’s hopes the country will be able to maintain this level of growth rate in the coming years. According to the agency, the median rate of growth for B-rated sovereigns was just 2.7 percent in 2016. Until the country enhances its industrial surplus and agricul-

tural production, it will be difficult to bring down the fiscal deficit to the desired level. It is yet to be seen how much the government will able to maintain fiscal deficit by banking on $6 billion IMF loan, the country is still looking for loans from various donor agencies. According to experts, the next few years are very difficult for the country as it will not only have to return the old loans, but will also have to pay the markup on fresh loans. Pakistan will have to achieve the real GDP growth of over 6 percent over the next few years to maintain fiscal discipline. As regard to CPEC, it will take time to materialize its economic benefits.

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Saudi Customs will hold a workshop application glades within 24 hours Wednesday July 19, 2017

World

RIYADH: General Customs Authority held a workshop application glades within 24 hours at the headquarters of the Customs King Abdul Aziz Port in Dammam, and with the participation of 120 participants from customs partners in the work of customs from the public and private sectors, in addition to the participation of specialists from the employees of the customs . The workshop aims to introduce the axes of the stages glades within 24 hours, including the application phase, which was recently in Jeddah Islamic Port Customs and will be worked out at the customs oﬃce of King Abdul Aziz Port in the next few weeks.

Turkish customs terms imported Rosneft gets Russian oil deposit for $330 million Dutch flowers as ‘secret’ MOSCOW

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ANKARA

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ustoms and Trade Minister Bülent Tüfenkci said the information on which municipalities imported Qlowers from the Netherlands in the last 2.5 years was “secret,” in response to a parliamentary question about the issue submitted by the main opposition Republican People’s Party (CHP) Istanbul lawmaker Sezgin Tanrıkulu, daily Sözcü reported on July 14. In the last 2.5 years, Turkey has imported 38,195,130 kilograms of Qlowers worth $86 million from the Netherlands. In the Qirst Qive months of this year only, this Qigure was 9.1 million kilograms of Qlowers, for a payment amounting to $16.7 million. “Which municipalities [in Turkey] imported the Qlowers?” asked Tanrıkulu in a motion, bringing the issue to the parlia-

Gold smuggling on rise in India hike in taxes on gold sales in India could stoke under-the-counter buying and drive up appetite for precious metal smuggled into the country, where millions of people store big chunks of their wealth in bullion and jeweller. As part of a new nationwide sales tax regime that kicked in on July, the Goods and Services Tax (GST) on gold has jumped to 3 per cent from 1.2pc previously, with traders and buyers saying the move will likely force more transactions into the black market. “Three per cent is too much. I preferred to buy without receipts. The jeweller did not have any problem,” said a middle-aged buyer, who declined to be identified after making purchases on Monday at the country’s biggest bullion market, Zaveri Bazaar in Mumbai. Smaller shops could be more inclined to sell without receipts, potentially hitting sales at big jewellers that keep to the rules, said Harshad Ajmera, the proprietor of JJ Gold House. –CB Report

mentary agenda. “As per customs regulations, this constitutes secret information,” responded Tufenkci to Tanrıkulu’s question. Furthermore, Tufenkci provided detailed information regarding the amount of flowers imported. “14,302,268 kilograms of orna-

mental plants and flowers worth $34,462,224 in 2015; 14,747,520 kilograms worth $36,685,754 in 2016; and 9,145,342 kilograms worth $16,769,067 were imported from the Netherlands between 01.01.2017-05.31.2017,” noted Tufenkci.

Philippines sets $451.08/tonne price ceiling for rice imports

he Philippines’ state grains agency said on Thursday it set a price ceiling of $451.08 a tonne for the 250,000 tonnes of rice it was seeking from international suppliers, and identiQied 11 prospective bidders from Vietnam, Thailand and Singapore. The Philippines, one of the world’s biggest rice importers, usually buys from major sellers Vietnam and Thailand, where export prices have fallen

amid weak demand. The National Food Authority (NFA) is seeking supply of 25 percent broken long grain white rice for delivery between August and September to boost its thinning stockpile ahead of the typhoon season later this year. That variety is trading at around $393-$398 a tonne in Vietnam RI-VNBKN25-P1 and quoted at $393 a tonne RITHWHT25-A by the Thai Rice Exporters Association. –CB Report

ccording to the results of the auction, the right to develop the Erginskoye deposit was received by Rosneft, said Minister of Natural Resources Sergey Donskoy. According to him, 17 steps were taken by the participants of the auction, in which along with Rosneft, the companies RN-Uvatneftegaz, Gazpromneft-Khantos and PioneerGeo took part. As a result, the last move was made by Rosneft, which offered 20.071 billion rubles ($330m) for the last free large deposit of Russia. “We are conQident that the development will have a high proQitability, since the subsoil area has a very good location – near the infrastructure of already developed deposits, which signiQicantly reduces costs,” commented Donskoy on the results of the auction. The Er-

ginskoe oil Qield was discovered in 1995, its recoverable reserves are estimated (by categories C1 and C2) in more than 100 million tons. Previously, interest in its development was expressed by Rosneft, Gazprom Neft, NOVATEK, LUKOIL, Surgutneftegaz and the Independent Oil and Gas Company. However, in December 2016, the head of LUKOIL, Vagit Alekperov, said that the company refused to participate in the auction for the development of the Erginskoe Qield. Meanwhile, Russia’s Economy Ministry expects annual inQlation to be in a 4.0-4.2 percent range in July compared with 4.4 percent in June, it said on Monday. In month-on-month terms, consumer price growth is seen at 0.2-0.4 percent, compared with 0.6 percent in June, the ministry said in an emailed document. Russian Economy Minister Maxim Oreshkin said earlier on Monday that Russia could see deQlation in August, in month-onmonth terms, due to seasonal decline in prices for vegetables.

South Africa joins new free trade pact outh Africa, the second largest economy in Sub-Saharan Africa, has joined Kenya and other regional countries in signing of the Tripartite Free Trade Area (TFTA) aimed at easing doing business on the continent. Johannesburg joined the FTA pact during the ministerial meeting that was held in Kampala, Uganda last week. TFTA brings together three business regional blocs of Common Market for Eastern and Southern Africa (Comesa), East African Community (EAC) and Southern African Development Community (SADC). Kenya is a member of Comesa and EAC. “South

Africa signed the agreement the very hour that the remaining three Annexes to the Tripartite Agreement were adopted by the ministers following the conclusion of the ministerial meeting,” said Comesa Director of Trade and Customs Francis Mangeni in a statement. The entry of South Africa brings the total number of countries that have signed to 19. A total of 14 ratiQications are required for the agreement to enter into force. The objectives of TFTA is to promote economic and social development of the region, create a large single market with free movement of goods and services and to promote intra-regional trade. –CB Report

Korea Customs investigated over duty free licenses

T SEOUL

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he prosecution launched an investigation Wednesday into the Korea Customs Service over allegations it granted favors to certain conglomerates in providing duty free shop licenses under the Park Geun-hye administration.

The investigation will focus on whether Park or her longtime friend Choi Soon-sil intervened in the custom agency’s selection of companies, marking a second-phase probe into the massive inQluence-peddling scandal which removed Park from ofQice. The Board of Audit and Inspection (BAI) conQirmed Park ordered four additional slots for duty free shops in Seoul in 2016, for

which there were no initial plans. The Qindings came from an audit conducted in February and March on the customs agency following a request from the National Assembly. The state auditor announced 13 illegal and unfair practices it found in its audit, Tuesday. Prosecutors began an into investigation Chun Hong-uk, the commissioner of the Korea Cus-

toms Service, and four former and current staff members of Seoul Main Customs. Chun faces allegations of destroying documents related to duty free store license evaluations, and four other allegations of manipulating evaluation scores. He is suspected to have pledged his loyalty to Choi after taking ofQice as commissioner.

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Multan Customs Collectorate suffers shortfall of Rs6343m MULTAN: The Model Customs Collectorate Multan has collected Rs47490.79million during the whole economic year 2016-17. The Federal Board of Revenue has assigned the Multan Customs with the annual revenue collection target of Rs53832million under the heads of Customs Duty, Sales Tax, Federal Excise and Income Tax for the period of July to June 2016-17. So the collectorate has suffered a deficit of Rs6343million for the abovementioned period.

Wednesday, July 19, 2017

CUSTOMS BULLETIN

Gwadar Customs recovers non-duty paid goods, narcotics worth Rs 7 million KARACHI WAQAR AHMED ANSARI www.customsbulletin.com

he Collectorate of Gwadar has seized a huge quantity of electronic items worth Rs 7 million during the Qirst week of July. In another raid, the Customs Collectorate foiled a smuggling attempt and seized 18 kilograms of hashish. According to details, Gawadar Collector Saeed Akram received a tip-off regarding transportation of smuggled narcotics in Bar area. He constituted a team of Customs Anti Smuggling Organization (ASO) to curb smuggling. The team, under the supervision of Customs Preventive Inspector Rashid Jataoe, started search operation in Bar area. The team intercepted a truck bearing registration number BTL-4629 which was going to Mirpurkhas. During the search operation, the customs team found 18 kilograms of hashish which was concealed under driver’s seat. The team seized the drugs, and truck which was being used to smuggle and arrested truck driver who was later identiQied as Ghulam Ahmed. Source said that the price of seized drug is Rs 2 million in in-

ternational market. An FIR has been submitted. Source said that this raid

is the 2nd raid in the month of July, anti smuggling team perform excel-

lent duty. Collector Gawadar Saeed Akram said our team is showing ex-

cellent performance in curbing smuggling attempts in the region.

M/s Al-Hussain Traders moves SHC in tax evasion case KARACHI

M B RANA

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he Sindh High Court (SHC) directed parties to Qile their respective para wise comments for August 11, 2017 on a constitutional petition Qiled by Mustafa son of Luqman Ali, sole proprietor of M/s Al-Hussain Traders against nomination of his name in alleged tax fraud case and apprehension of arrest.

A two-member bench headed by Justice Munib Akhtar was hearing the petition. During the hearing, counsel for the customs department and petitioner appeared before the court and requested time for Qiling the comments, therefore, the court adjourned the matter for August 11, 2017. Earlier, counsel for the petitioner stated that M/s Al-Hussain Traders are engaged in wholesale distribution of iron and steel products/ general order supplies since 07/07/1999. The petitioner purchases goods from registered persons and pays the tax which is

levied and collected by the suppliers as a registered agent of the Federal Board of Revenue (FBR) and fulQils all liabilities properly. According to the petitioner, however, the tax department lodged the FIR against him and claimed that petitioner is involved in tax evasion, he informed the court that he produced all relevant documents before concerned authority but they denied and threatening to the petitioner illegally and investigation ofQicer also threatening to him for his arrest. Citing Chairman Federal Board of Revenue, Director Directorate

General of Intelligence & Investigation-IR, chief commissioner Inland Revenue, Regional Tax OfQice (RTO) and others as respondents, he pleaded the court restrain them from any action including arrest, detention, recovery or interfering with the rights and liberties or business the petitioner in any manner whatsoever. Meanwhile, The Sindh High Court (SHC) restrained tax department shall not be passed final order pursuant to the impugned notice on a constitutional petition filed by International Air Transport As-

Published by M S Raza Oﬀ# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by Dhoom Printing Building No RY/A, 11/6,11/7, Mashoor Mahal,oﬀ I.I. Chundrigar Road, Karachi

sociation against impugned show cause notice in respect recovery of disputed amount. A two-member bench, headed by Justice Munib Akhtar heard the petition. During the hearing, counsel for the petitioner stated that dated 08/6/217 Additional Commissioner Inland Revenue Audit Rang-B, Zone-IV Corporate Tax OfQice issued a show cause notice to the petitioner under section 122 (9) of the Income Tax Ordinance 2001, for further amendments of assessment under section 122 (5A) of the Income Tax Ordinance, 2001 for the tax year 2001.