KARACHI: M/s Asghar Enterprises has filed a constitutional petition before the Sindh High Court (SHC) seeking restraining order against valuation ruling no 1386/2019.
On August 24, 2019, counsel for the petitioner argued that the assessment of imported consignments of ball bearing and tapper roller bearing have been subject to in-filed valuation rulings since 2011, but since 2016 have been a lot of disputes as to the true and correct customs values, therefore, in order to settle the dispute the customs officials initiated a fresh exercise of determination of customs values for ball bearing and tapper roller bearing.
He submitted that whenever a fresh exercise of section 25A in initiated all the relevant and associated stake-holders are invited and are duly given opportunity to make representations, indeed, the customs officials invited all the relevant stakeholders and meeting was duly held and valuation ruling no 1386/2019 dated 24/07/2019 was issued, however, in revision, DG Valuation set aside said valuation ruling without considering facts and circumstances.
Citing secretary Revenue Division, Director General Valuation and Director Valuation as respondents, petitioner pleaded the court to the petition and set aside the impugned order-in-revision no 10/2019 dated 08/08/2019 passed by DG Valuation, declare that the subject valuation ruling 1386/2019 was rightly issued after following the mandate enshrined under sections 25 & 25A of the customs act, 1969.
He further pleaded the court may declare that it is illegal to set-aside the valuation ruling without giving notice to the relevant stakeholders.