ORDER SHEET

IN THE HIGH COURT OF SINDH AT KARACHI

H.C.A. No.24 of 2021

___________________________________________________________________ Date Order with signature of Judge

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FRESH CASE:

1. For order on office objection a/w reply as at ‘A’.

2. For order on CMA No.349/2021 (Exemption).

3. For hearing of main case.

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10^th January 2022

Mr. Ameer Bakhsh Metlo, Advocate for Appellants.

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1. Learned counsel for the appellants undertakes to comply with office objection before next date of hearing.

2. Exemption granted, but subject to all just exceptions.

3. Instant High Court Appeal has been filed against impugned judgment dated 30.11.2020 and decree dated 07.12.2020 passed by the learned Single Judge of this Court in Suits No.1479 and 1494 of 2008, whereby, according to learned counsel for the appellants, the suit filed by the respondents has been decreed while holding that the rate of FED will be applicable at 3%, which was prevailing at the time when the contract was executed, and not the rate of 5% prevailing when premium was received by the respondents, whereas, according to learned counsel for appellants, in terms of Rule 40(3) of the Federal Excise Rules, 2005, the duty in respect of insurance policy has to be accounted in the same month when the premium is received, therefore, the impugned judgment is not in consonance with the law and the aforementioned rule.

Mr. Shaheer, Advocate has shown appearance on behalf of the respondent No.1 upon notice under Order 43 Rule 3 CPC, however, waives notice of instant appeal, claim its copy alongwith annexures and requests for time to file vakalatnama and objection/reply. Learned counsel for the appellants undertakes to supply copy of the same during course of the day. Let the objection/reply, if any, shall be filed before next date with advance copy to the learned counsel for appellants.

To come up after four weeks.

J U D G E