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W.T.AS. NOS. 1251/LB TO 1256/1.13 OF 2000, DECIDED ON 26TH JUNE, 2001. versus W.T.AS. NOS. 1251/LB TO 1256/1.13 OF 2000, DECIDED ON 26TH JUNE, 2001.

Sections 2 (5) (ii), 14 (2) and 17 (1) of the Wealth Tax Act 1963, 1963, R8 (3) CB, R Circular No. 7, 1994 dated 10, 1994 C: BRC Circular 1991 No. 11, dated 17 7 1994, a privately held company, Assisi bought or sold a plot for construction purpose, but after 25 years, the purpose was met due to the change in circumstances. Not done. For the purpose of construction and sale and to legalize the property 5 5 Underwriting plot was purchased in 1976, and after almost 25 years after the incorporation of the company the purchase of the said plot There was no other matter. No further action was taken to construct or use it in a manner that could be considered a business activity. According to the association's memorandum, the main purpose of the company was to acquire, buy or take pieces of its lease. In Pakistan and wherever it takes to build a bull-yen and structure it for any purpose, and generally to deal with or continue to do business with a significant purpose, but the fact remains that the company is founded. Since then, nothing had been done and went a long way to prove that it is not possible to mention only business in nature as a basis for attracting value tax proceedings. ii) The Wealth Tax Act, 1963 best law firm from Swatmingora lawyer