A division bench of the Lahore High Court here on Tuesday directed the administrators of Ittefaq, Ittefaq Sugar Mills, Brothers Steel, and Ittefaq Brothers Ltd to present a list of legal heirs of the late Mian Muhammad Sharif and Mian Muhammad Abbas Sharif by the third week of November. The bench was hearing an 18-year old petition filed by these companies and individuals of the Sharif family against 'incorrect' assessment of income tax by the income tax department and subsequent decisions of income tax appellate tribunal upholding the tax assessment done in 1995.
Earlier, the counsel for petitioners, A.K Dogar, expressed his inability to get the list of the legal heirs of the two senior members of the Sharif family died during the pendency of the petition. To this, the bench issued notices to the administrators of the four companies owned by the Sharif family and directed them to present the required list of the heirs.
The petitioners included Mian Muhammad Nawaz Sharif, Mian Muhammad Shahbaz Sharif, Mian Muhammad Farooq Barkat, Mian Muhammad Iqbal Barkat, Mian Muhammad Hassan Barkat, Mian Muhammad Hussain Barkat, Mian Muhammad Zahid Shafi, Mian Muhammad Javed Shafi, Mian Muhammad Tariq Shafi, Mian Muhammad Pervez Shafi, Mian Muhammad Idrees Bashir and Mian Muhammad Aslam Bashir.
The petitioners pleaded that the IT Dept assessed the liability of the Ittefaq Group and its directors at Rs 20m, but the tax was raised to Rs 400m during the first Benazir govt. They said on an appeal before the dept, during the first Nawaz govt this amount was reduced to Rs 20 million.
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