Law: Constitution of Pakistan, 1973

Section: 142

Law: Wealth Tax Act, (XV of 1963)

Section: 3,2(e),2(m)

(a) Constitution of Pakistan (1973)-- ---Art. 142--Where a question arises as to the competence of Parliament to promulgate any legislation, not covered by Art.142(d), it has to be seen whether the subject-matter of legislation is covered by any entry either in Federal or the Concurrent Legislative List of the Constitution. Parliament has exclusive power to legislate in respect of all or any of the items specified in the Federal Legislative List. The Parliament is also entitled to legislate in respect of items enumerated in Concurrent Legislative List of the Constitution along side with the Provincial Assemblies. However, in respect of items not mentioned in either of the above two legislative lists of the Constitution only Provincial Assemblies are empowered to legislate. Such legislative power in respect of items not specified in either of the two legislative lists of the Constitution is also exercisable by the Parliament, but only in respect of the areas which are not included in any of the Provinces. It is, therefore, quite clear, that where a. question arises as to the competence of Parliament to promulgate any legislation (not covered by clause (d) of Article 142 of the Constitution), it is to be seen whether the subject-matter of legislation is covered by any entry either in Federal or the Concurrent Legislative List of the Constitution. (b) Wealth Tax Act (XV of 1963)-- ---Preamble--Object of Act is to levy tax on wealth. (c) Constitution of Pakistan (1973)-- ---Fourth Sched., Part 1, Item No.50--"Capital, value and assets" means the total value express able in terms of money of the properties of all kinds possessed by a person excluding his liabilities. Webster's Third New International Dictionary and Mozley and Whiteley's Law Dictionary, Eighth Edn. ref. (d) Wealth Tax Act (XV of 1963)-- ---Preamble--Words "wealth" and "assets"--Concept and import--Legislature when promulgating the Act and providing for levy of tax on wealth in its Preamble were in fact intending to tax the `assets' of a person. Reading the words "wealth and assets" together it cannot be doubted that they are similar in concept and import. The concept of aggregation of different kinds…

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