The Federal Board of Revenue (FBR) took a significant step on Wednesday byinitiating legal proceedings against the proprietors of K H & Sons,Mohammad Kashif and Mohsin Ali. The charges revolve around their allegedinvolvement in what is being considered the largest tax fraud case in thehistory of the country, totaling a staggering Rs314 billion.
This noteworthy development unfolded when the FBR officially lodged a caseagainst Kamal Mohammad Kashif and Mohsin Ali, the individuals behind K H &Sons, on allegations of tax fraud. Inside sources from the FBR havedisclosed that dedicated efforts are being made to locate and apprehendthese nominated suspects, who are suspected of conducting businessactivities through a web of counterfeit invoices.
According to a spokesperson from the FBR, the alleged masterminds, Kashifand his partner Mohsin, were purportedly fabricating invoices to show salesof iron and steel across the nation. The authorities are intensifying theirefforts to track down an additional 15 individuals implicated in thisintricate network.
This revelation is of paramount importance as it underscores the magnitudeof the tax fraud uncovered by the Federal Board of Revenue (FBR), reachingan astonishing Rs314 billion. The fraud was brought to light through thediligent efforts of the Director-General Internal Audit Inland Revenueteam. It was discovered that K H & Sons, the supposed company at the heartof this fraudulent scheme, existed only on paper and was registered underthe name of a benami individual, Muhammad Kashif.
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The fraudulent company’s documents falsely claimed that it was engaged inthe business of iron and steel. Curiously, it listed its address as LiaquatMarket, Agri Market, and M A Jinnah Market. Sources have also revealed thatthis sham company’s name was exploited for various illicit activities,further deepening the complexity of the case
