The Federal Board of Revenue (FBR) filed a lawsuit against Mohammad Kashif and Mohsin Ali, the owners of the company K H & Sons, on Wednesday for allegedly taking part in the Rs314 billion greatest tax fraud case in the history of the nation.
The FBR filed a lawsuit against Kamal Mohammad Kashif and Mohsin Ali, the owners of K H & Sons Company, for tax fraud, which, according to the details, was a significant move.
According to sources within the FBR, attempts are being made to find the suspects who have been named and who are suspected of conducting business using fictitious invoices.
According to an FBR spokesperson, Kashif and his partner Mohsin were the masterminds and used false invoices to demonstrate iron and steel sales around the nation. Additionally, the authorities are attempting to detain 15 other members of the network.
It is important to note that K H & Sons, a fictitious firm, committed the largest tax fraud in the history of the nation, totaling Rs314 billion, according to the Federal Board of Revenue (FBR).
The Director-General Internal Audit Inland Revenue team found the tax fraud. The K H & Sons company was simply registered with a benami person named Muhammad Kashif and never existed in reality.
Documents from the fictitious corporation claimed that it operated an iron and steel company and listed Liaquat Market, Agri Market, and M A Jinnah Market addresses as its locations.
Sources claimed that many unlawful operations were carried out under the fictitious company’s identity.
