A division bench of Lahore High Court headed by its Chief Justice has given a stay order against the judgement passed by its single bench to rule that Income Support Levy is a valid piece of legislation and could be collected for the poor and needy.

Sources said it was argued that if the Income Support Levy was to be collected from persons having moveable wealth more than Rs 1 million then the same could not have been collected from such persons as FBR dispensed the condition of filing the wealth statement with the return by issuing an statutory regulatory order (SRO). In such a scenario the levy could not be imposed on all those who had moveable assets of more than Rs 1 million. The next date of hearing has been fixed at August 22, 2016, sources added.

Copyright Business Recorder, 2016