Full Judgment Text & Judicial Ruling

Court Name: Lahore High Court Judge(s): Mian Saqib Nisar, Sh. Azmat Saeed Title:COMMISSIONER OF INCOME TAX/WEALTH TAX, FAISALABAD ZONE, FAISALABAD

vs AZIZ-UR-REHMAN MIAN C/O FAUJI FERTILIZER COMPANY, BAHAWALPUR Case No.: Income Tax Appeal No.468 of 1998 Date of Judgment:2004-12-20 Reported As: 2005 PTD 1875 Result: Appeal dismissed Judgment ORDER This is an appeal under section 27 of the Wealth Tax Act, 1963, through which the appellant seeks the determination of the following as the question of law:-- "Whether under the facts and circumstances of the case, the learned Tribunal was justified to hold that 15 Marlas constructed house and 6 Kanals open land should be assessed as a single unit?" 2. We have heard learned counsel for the appellant and find that the CIT Appeals, as also the Tribunal, have rightly held that the property of the assessee, which was declared at the value of Rs.13,85,000 for the wealth tax purposes, should have been valued in the composite manner and its evaluation by taking the land and building separately, was not warranted. We do not find any error in the said order, therefore, decline to answer the question formulated above. Dismissed.

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