KARACHI: Customs Taxation and Anti-Smuggling Court Judge Syed Faiz Rasool Rashdi convicted a suspect, Saeed son of Mir Khuda Buksh, for already undergone period and till the rising of the court. He was booked in a mega tax evasion case.
The court also imposed a fine of Rs 500, 000 on him. If he failed to pay the fine amount than he will undergo further one year imprisonment in Central Jail Karachi.
According to the prosecution, Saeed, being Director of M/s MKB Enterprises (Private) Limited, Peshawar, imported consignments of plastic moulding compound (polypropylene) of different grades under DRTE scheme and stored the same in the godown. However, the compound found to be short during inventory.
As per FIR, the suspect illegally removed the goods without paying duty and taxes to the tune of Rs 37,415,672 for subsequent manufacturing and re-exportation, therefore, he had committed an offense punishable under section 156 (1) (14) & (14-A) of the Customs Act 1969. Counsel for the prosecution informed the court that it has sufficient evidences against him and he is not entitled to any relief.
Case was registered against accused for violation of section 32 (1) & (2) 32-A, 79, 80 and 219 of the Customs Act 1969 read with section 3 of the Sales Tax Act, 1990 read with section 148 of the income tax ordinance 2001, further read with relevant DTRE rules vide SRO-450 (1)/2001 dated 18/06/2001, punishable under clauses (14) and (14A) of section 156 (1) of the Customs Act 1969 read with section 33, 34 and 36 of the Sales Tax act 1990.