JOHN KEELLS HOLDINGS PLC

Vs.

COMMISSIONER GENERAL OF INLAND REVENUE AND OTHERS

COURT OF APPEAL
SAMAYAWARDHENA, J.
OBEYESEKERE, J.
CA/WRIT/357/2015,
JUNE 10, 2020

Writs of certiorari and mandamus-Stamp Duty (Special Provisions) Act, No. 12 of 2006, sections 3(1), 4(f), 13-Stamp Duty Act, No. 43 of 1982, sections 14(2), 71-Aggregate value, total value, par value, market value-Interpretation of taxing statutes-Preliminary objections at the hearing

The petitioner had, under protest, paid stamp duty on a share certificate for a bonus issue of shares, which was calculated by the 1st respondent Commissioner General of Inland Revenue on the "market value" of the shares. The petitioner contended that the calculation ought to have been on the "par value" of the shares. The petitioner argued that the applicable order of the Minister stipulates that stamp duty be paid on the "aggregate value" of the shares, which should be understood as referring to the "par value" and not the "market value".

The previous order of the Minister in this regard had explicitly referred to "market value" in the calculation of stamp duty, but the succeeding (applicable