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W.T.-AS. NOS. 986/LB OF AND 1123/LB 2000, DECIDED ON 19TH MARCH, 2002 versus W.T.-AS. NOS. 986/LB OF AND 1123/LB 2000, DECIDED ON 19TH MARCH, 2002

Section 2 (5) (ii), as defined (i) Income Tax Ordinance (XXXI of 1979), Sections 19 and 30 (2) (d) Assessment of assets, a private limited company immovable property / factory, on lease The charge Wealth Tax A4sesee claimed that the factory was leased and since the lease is different from the rent, therefore, section 2 (5) (ii) of the Wealth Tax Act, 1963 was not applicable and only the Wealth tax from this applicable property. Can be obtained whose income was eligible to be taxed under section 19 of the Income Tax Ordinance 1979, not under section 30 of the Income Tax Ordinance 1979, leaving the valid expression out, means that entry is allowed, Both will be on rayh or lease, be given on rent. The Income Tax Ordinance 1979 also endorsed it because it used the term in section 19 in section 30 (2) in relation to income from home property. (D) the Assisi Company had given up its immovable property in connection with the income from leaving the building and machinery and, similarly, section 2 (5) read with exp (i) of the Wealth Tax Act, 1963 ( ii) The provisions of it were drawn that Assisi had been giving up his immovable property for many years and beyond any doubt that the property was held in the estate that the Asset Company had been placed on such assets. He was responsible for paying wealth tax. best law firms from Thatta lawyer