So do it mean that case is finished now ?
he have got lot money e from shriefs... and can he get away with giving only 3 crores?
Let me try to explain it a bit.... if I can.
With this slapped penalty on Mrs. Isa, it now has become more dangerous for the lady.
1- Financial repercussions
2- Legal implications.
For the 1st one: I have no clue regarding the amount i.e, Rs 35 million, whether it is only the owed taxes or it includes owed taxes, fine on unpaid taxes plus cumulative interest on both amounts? If this amount represents only the owed taxes then..... by adding fine and cumulative interest, the total amount can go to 200 per cent or even higher, needs to be calculated and determined.
For the 2nd: This is where the real catch is. Tax evasion everywhere in the world is the biggest financial crime punishable under penal codes, i.e, jail time in addition to recovery of the owed tax amount, fine on the unpaid taxes plus cumulative interest. The jail time varies from country to country. As per Pakistan penal code, the minimum jail time for tax evasion is 5 years and it may go up due to any peculiar nature of the crime and the person involved in the crime. Since in this case a sitting Justice of the highest court of the land's family is involved in the crime, therefore, the family will be judged on a higher pedestal of integrity, morality and its effects on the society at large. Additionally, there is additional jail time for unpaid fines as well.
Now you can well imagine where this tax evasion will land Justice Faiz Isa and his family into. Its a two fold penalty situation now.
In my opinion, I think the chances are...... since Justice Isa is fully trapped now, therefore, he may voluntarily step down in exchange for pardon on the jail sentence and some relief on the owed money.
Now you will also understand as to why Justice Isa unleashed the bar councils, bar associations and the political parties to pressurize the Supreme Court to drop this scrutiny of his finances by the FBR against him. He himself as a specialized tax attorney at law exactly knew where this investigation will lead him to and the resultant consequences.
Makes sense?
Now keep your eyes and ears open on this case. Okay?
ranaji
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