The Federal Board of Revenue (FBR) has provisionally attached a suspected Benami property, Plot No. 56-N, located on main Jinnah Avenue, sector F-7, Islamabad. This action was taken by the FBR Anti-Benami Zone 1 Deputy Commissioner IR/Initiating Officer under the provisions of the Benami Transactions (Prohibition) Act, 2017.

The attachment order was issued based on evidence collected during an authorized inquiry and investigation under Section 21 of the Act. A show cause notice under Section 22(1) of the Act was issued, and subsequently, the Approving Authority, Commissioner IR, Benami Zone-1, Islamabad, approved the provisional attachment under Section 22(3) after reviewing the reasons provided in the show cause notice and the material evidence.

READ MORE: KFC Shuts Down 100 Outlets in Malaysia Due to Gaza-Related Boycott

As per the order issued under Section 22(3) read with Section 5 of the Benami Transactions (Prohibition) Act 2017, the transfer or charging of the aforementioned property, Plot No. 56-N, is prohibited until further orders. Additionally, all individuals are prohibited from deriving any benefit from such transfer or charge.

The provisional attachment is effective immediately and will remain in force for a period not exceeding ninety days from the date of issuance of the Section 22(1) notice. The property in question, which is being developed into a commercial plaza named Mall of Islamabad, is alleged to be held benami by Vicky Trading Pvt Limited.

LEAVE A REPLY

Please enter your comment!
Please enter your name here