28 July 2004	Wednesday	10 Jamadi-us-Saani 1425

KARACHI, July 27: A reference was held on Tuesday for Khawaja Farooq Saeed on his elevation to chairman of the Income Tax Appellate Tribunal (ITAT), Pakistan.

Speaking on the occasion, the new ITAT chief appreciated the role of the Income Tax Bar Association, Karachi, in framing new tax laws and providing guidance to the Central Board of Revenue from time to time.

Besides being a law expert, Khawaja Farooq Saeed is presently president of the Pakistan Gymnastic Federation and vice-president of the Pakistan Olympic Association. The reference was attended by ITAT members, Karachi, regional commissioners of income tax, chartered accountants and members of tax bar.

Younus Rizwani Sheikh, president of the Income Tax Bar Association, Karachi, said that Farooq Saeed qualified and possessed all the qualities that were essential for holding the position of chairman of the ITAT. The ITBAK chief also drew the attention of the new chairman towards certain problems confronting the Karachi tax practitioners.

He pointed out that a few months back there were five divisional benches functioning in Karachi and the pendency had drastically reduced, but now due to shortage of both judicial and accountant members and transfer of headquarter bench from Karachi to Islamabad usually not more than two benches were functioning in Karachi.

"As a result of this the pendency, which has been controlled to a reasonable extent, is again getting out of hands." He urged the ITAT chief to post enough members so that four benches functioned regularly to enable the appeals to be disposed of expeditiously.