950822

ITSC reinforced with

two more benches

RECORDER REPORT

KARACHI: The Income Tax Settlement Commission (ITSC), so far roving with a two-member bench all over the country, has been reinforced with two more benches. ITSC benches will have their permanent seats at Karachi, Lahore and Islamabad.

Shamim Ahmed, Chairman of the ITSC, disclosed this while addressing the members of the Income Tax Bar Association, Karachi (ITBA) at a meeting organized by Z H Jafri, President of the ITBA, here on Tuesday.

Highlighting functions of the commission, Shamim Ahmed told the members of the bar that the tax-payers can approach the commission for the settlement of their dispute even if their appeals are in process in income tax, tribunals or with Commissioner Appeals, without withdrawal of their appeals and in case the decision made by the commission is not acceptable to the applicant he can always disown it without any fear as the commission, is a toothless organization which cannot harm any one.

He said that there is no fee or condition for moving the Settlement Commission.

Shamim disclosed that between December 1994 and June 1995 the commission settled 750 disputes, which is of course a very low tunrover.

Originally, the commission was established to receive applications from the tax-payers intending to confess concealment of their income and to whiten the same after paying a certain penalty proposed by the commission.

Because of the availability of various schemes such as Foreign Exchange Bearer Certificate (FEBC) and others of the same kind which are in operation at a nominal percentage of tax for whitening of the black money, none of the concealment cases came up before the commission since its inception.

Paying glowing tribute to outstanding services of the commission, Z H Jafri, President of the ITBA, said that with a man of integrity like Shamim Ahmed the commission has won the confidence of the tax-payers within a short span of time.

In contrast with the experience of trials and tribulations of long-drawn income tax proceedings faced by the tax-payers, the commission has given relief by its efficient and diligent working, remarked Jafri.