ISLAMABAD - Federal Board of Revenue has established three Benami Zones at Karachi, Lahore and Islamabad for enforcement of Benami Transaction (Prohibition) Act, 2017.
In a press release issued today (Thursday), it was said after examination of available information FBR Benami Zones Karachi and Lahore have issued show cause notices in six cases of Companies holding shares and immovable properties as Benamidar.
Attachment and confiscation shall be concluded after completion of legal formalities. Criminal proceedings under chapter-VIII are also likely to be initiated in these cases.