LAKSON TOBACCO COMPANY LTD. versus CENTRAL BOARD OF REVENUE
Paragraph 2 (3) Section RO No. 515 (I) / 88 Dated 26 6 1988 Constitution of Pakistan (1973), Article 199 Failure to achieve export target, facilitating export finance, Fine Petitioner Company engaged in cigarette manufacture Applicable, financing for the purpose of the State Bank of Pakistan Export Finance Scheme, which has been jailed for its export business company to achieve the desired export target during the required year, State Bank of Pakistan has issued a banking central department circular. Under line 2 (3) of the petitioner, the applicant is lined up. No. 9 Portion 12 2 1985 The government withdrew excise duty and sales tax exemption on export of cigarettes on 26-6 1988, while the applicant company obtained export finance facility through various banks, the period from 1 7 1988 to 30 6 was until 1989. The company's view was that the offer to withdraw cigarette exports became a viable business, but Tester, on the other hand, continued to take advantage of the privileged financing, knowing that it would not export. Being immovable, the company used a very low mark-up rate for a full year on the same finance that the public lands received from banks, which would make them better off. It was disclosed by the State Bank that such act of the applicant company was an abuse of the facility when the export finance facility was obtained by the company, then it was aware that the scheme was not exported. Will not export. The viable case of the applicant is that non-performance is a great risk, even though its contribution is considered under the second part of the scheme,
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