KARACHI: The Sindh High Court (SHC) has sought comments from tax authorities on a constitutional petition filed by M/s Pervaz and Sons against increased valuation of $1.90 per kilograms instead of $1.30 per kilograms of its consignment of “synthetic rubber, acrylonitrile butadiene rubber “ .
A two-member bench, comprising Justice Munib Akhtar and Justice Anwar Hussain, was hearing the petition. During the hearing, Masooda Siraj filed power of attorney on behalf of the department and sought time to file para wise comments. The court granted him time and adjourned the hearing for October 10, 2016
Earlier, counsel for the petitioner stated that petitioner entered into a contract and imported consignment of synthetic rubber, acrylonitrile butadiene rubber which was shipped on 31/12/15 and reached Karachi port on 28/01/2016.
According to the petitioner, it filed goods declaration as valuing $ 1.30 per kilograms, however which was assessed by officials of the director general, Directorate General of Valuation on the basis of amended valuation ruling 772/2015 dated 23/04/2015 and transactional value of the imported goods @ $ 1.30 per kilograms the same was being enhanced to $1.90 per kilograms which was challenged by several parties before concerned authorities. Counsel argued that petitioner goods and consignment is lying on the port area and suffering from heavy demurrage.
Citing chairman Federal Board of Revenue (FBR), the Director General, Directorate General Valuation, Collector Appraisement East, West as respondents, petitioner pleaded the SHC may directed the respondents to release the consignment on its declared valuation.
