Section 2 (1) (16) Constitution of Pakistan, Article 199 Constitutional application pure wealth. Wealth tax payable was taxable and tax payable, in which case the taxpayer of the property counted the non-payment of wealth tax on the loans in which the tax was collected, or related. The borrower was estimated to be able to deduct according to the applicant because he was acquitted against taxable assets, and was negligent if such assets were later due to uncertainty in the business. Was sold and such sale of assets did not change the loan. By the legitimate language of Section 2 (1) (16) (II) of the Wealth Tax Act, 1963, created for taxable assets, and non-payment of wealth tax was linked to an asset to which a For any reason or other reason, was exempt or exempt from such tax payment. Taxes Leaving to pay on an asset that is deducted from an asset's deductible debt must be dealt with / related to existing assets that were not tax exempt and where the asset was not available ? There can be no basis for behaving like a compensated asset and therefore the purchase of such assets cannot be deducted from the value of the assets so the need for non-payment of tax was met. The same can be exempted from the wealth tax. Absence of an asset that considers loans sought to be deducted or constitutes security The illegal judgment of the tribunal was legally valid
Related judgments — Lahore High Court Lahore, 2013
