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Pak President Asif Ali Zardari lets off man probed for $1.1 bn tax evasion
Updated On: 24 July, 2013 03:09 AM IST | | IANS
Pakistan President Asif Ali Zardari has given a property magnate a clean chit in a suspected tax evasion of Rs.119.4 billion (over $1.185 bn) while dismissing the report submitted by a Supreme Court-constituted investigating commission in the Arsalan Iftikhar case, the Dawn reported.
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A Suddle Commission had been formed by the Supreme Court to probe an alleged Rs.342 million business deal between property magnate Malik Riaz Hussain and Arsalan Iftikhar, son of Chief Justice Iftikhar Muhammad Chaudhry.
The commission had indicted Hussain in a colossal tax evasion that amounted to Rs.119.4 billion, and proposed in its interim report that a penalty for concealment of assets in wealth statements filed with income tax returns be enforced on the property tycoon.
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