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versus STATE

Section 27 (2) (a) (ii) Circular No. 10 of the CBR 1 Constitution of Pakistan 1979 (1973), Fourth Schedule CL (50) The above mentioned transaction engaged in the acquisition of property to the acquisition of capital. Trade Appeals in the nature of trade which are subject to tax were excluded on the issue of the acquisition of tax on the sale of such land that the first appellate authority had made in connection with the review. The first was not endorsed by the appellate authority as an adventures in the nature of the trade. The facts are beyond any doubt that the sale of the tort at the time of purchase. There was no intention: The land in question was purchased as agricultural land and at the time of acquisition / purchase there was no intention to sell and make a profit; neither in the past had any asset plot in the property buying and selling business. Was involved. The business was considered only 11 years after the date of purchase of this property. Throughout the history of the matter, agricultural plots of land have been regarded as capital assets and even once in the Department of Commerce and Trade, in the past years, such controversy has never been controversial and for the establishment of this land. Purchased only with the sole intention of investing. The industrial unit, ie the knitting unit and in this regard, Essex has tried its best but could not achieve the desired target. The Assisi took steps to set up an industrial unit and fulfill its purpose, such as opening a letter of credit for setting up a unit for 100 power rooms. A copy of the Letter of Credit was submitted with the Assessing Officer to the Bank Charges Debt Advice. Due to non-compliance with required permissions famous supreme court advocate from Bhakkar lawyer