I. BACKGROUND: (A) (1) TLQC 3728 of 14.9.26 about ITR TY 2026: KTBA-FBR Meeting on thereon, Refund u/s 7E, E-Invoicing, Faceless Audits, etc (2) TLQC 3577 of 23.6.26 about Deemed IT on Property u/s 7E held unconstitutional - FCCP Detailed Order (B) Moreover other relevant QCs List is given Para IV for ready reference.

II. UPDATED COMMENTARY

Further to KQU 4101 of 25.9.26, being an important matter, we would inform you about Acceptance of Requests for Revision of Returns on Single Agenda of Payment u/s 7E of ITO 2001 of 23.9.26 - FBR (Attachment 3757.1) in the ensuing paragraph, with emphasis in bold & line for quick reading.

2. FBR directed to refer to the subject Minutes of the meeting distributed vide letter No. 1-1/SA/CH-FBR/26 dated 23.9.26 and to say that requests received from taxpayers for revision of returns in light of the Hon’ble FCCP order dated 7.5.26 (TLQC 3515 of 13.5.26 refers), whereby the collection of tax u/s 7E of the ITO, 2001 was declared ultra vires, shall not be rejected. However, this direction is strictly confined to the aforesaid agenda item and shall not be construed as having any application beyond the matter specifically addressed herein.

3. FBR further directed to say that, where revision of a return pursuant to the said order results in a refund becoming due, the subsequent application for refund shall also be processed expeditiously, in accordance with the applicable law and procedure.

III. KC RECOMMENDATIONS

With due respect, we understand the Circular has certain legal flaws, and you may find quick relief through other means. Hence, we recommend contacting your Advisor OR  us prior to filing the 2026 return. 

IV. MULTIPLICATION

Although all the Commentaries are to the extent of the Subscribed IDs only, however, your Goodself is allowed to share this QC to Impart Knowledge to the maximum Employees, Relatives, Groups, etc as soon as possible, as they may get Notice anytime.

V. LIST OF RELEVANT TLQCs

a)     3515 of 13.5.26 about Section 7E FCCP Order Short for TY 2022: KC Views & Recommendations

b)    3506 of 7.5.26 about Deemed IT on Property u/s 7E held unconstitutional - FCCP Short Order

c)     3478 of 20.4.26 about Section 7E tax be declared unconstitutional pleaded before FCCP

d)    2836 of 20.7.24 about 7E HCs Latest Status, SCP LB hearing shortly, KCV & KCR

e)     2822 of 3.7.24 about Section 7E Violation and Huge Revenue loss

f)     2765 of 1.6.24 about section 7E declared on ultra vires by BHC; KCV & KCR

g)    2786 of 12.6.24 about 7E Deemed income tax on ownership of vacant plot of land incorrect - Part 

h)    2781 of 11.6.24 about Deemed income tax on ownership of vacant plot of land incorrect by Mr Shabbar Zaidi - Part 4

i)      2778 of 6.6.24 about 7E: Deemed IT on vacant plot incorrect vacant plot of land incorrect by Mr Shabbar Zaidi - Part 3

j)      2772 of 5.6.24 about 7E: Deemed IT on vacant plot incorrect vacant plot of land incorrect by Mr Shabbar Zaidi - Part 2

k)    2767 of 3.6.24 about 7E: Deemed IT on vacant plot incorrect by Mr Shabbar Zaidi - Part 1

l)      2737 of 13.5.24 about SCP LB directed IHC & BHC for 7E urgent orders; SCP hearing on 4.6.24 and KCV & KCR

m)   2672 of 19.3.24 about 7E HCs Status & SCP regular hearing from 26.3.24

n)    2698 of 8.4.24 about SCP Larger Bench to hear 7E issue on 23.4.24 & KCV

o)    2672 dated 19.3.24 about 7E HCs Status & SCP regular hearing from 26.3.24 - with our views and recommendations.

IV. Further Details & Services

Should you require any clarification or explanations in respect of the above or otherwise, or require Income Tax, Federal & Provincial Sales Tax or Withholding Tax Advisory, Statement or Return Filing or Review services, or related accounting matters like the above, please feel free to email Mr Amsal at amsal@kasbati.co with CC to info.kasbati@professional-excellence.com. Your Good self may continue to get other services from your current Tax & Legal Advisors.

Best regards for Here & Hereafter
Asif S Kasbati (FCA, FCMA & LLB)

Managing Partner 

Kasbati & Co (1400+ Tax, Levies, Companies, Economy, Inflation, HR, Banking, Finance, etc

Quick Commentary Service Provider and High Level 440+ Tax & Levies Laws Consultants) 

Head of Tax & Professional Excellence Services (Symbols of High Quality Practical Tax, Levies & Corporate Training for Beginners to High Levels' Professionals) 

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