ISLAMABAD : The Federal Bureau of Revenue’s Benami Zone-II, Lahore, has taken up the investigation of five sugar mills for verification of benami transactions.
Purchasers, with the largest quantities as declared by the mills in their sales tax returns, were randomly summoned to ascertain their authenticity as buyers of sugar. The exercise unraveled occurrence of benami transactions at a large scale during preliminary investigation.
Keeping in view HR constraints, logistical limitations and narrow timelines involved in the proceedings, detailed scrutiny was initiated in two sugar mills initially i.e. Alliance Sugar Mills and Hunza Sugar Mills. As far as rest of the sugar mills are concerned, information will be gathered, including information from the banks and proceedings will be started after concluding the already initiated cases.
