Law: Wealth Tax Rules, 1963

Section: 8(3),8(6)

Wealth Tax Rules, 1963-----Rr. 8(3) & 8(6)---C.B.R. Circular No. 11 of 1994, dated 17-7-1994--Plot on lease in Cantonment area. from the Government of Pakistan through Military Estate Officer---Valuation of---Value was assessed under R.8(3) of the Wealth Tax Rules, 1963 in accordance with the rates notified by' the District Collector ---Assessee contended that value of plot was to be determined in accordance With R.8(6) and not under R.8(3) of the Wealth Tax Rules, 1963 as he enjoyed only tenancy rights and the owner of the plot was the Government of Pakistan---Validity ---Lease deed executed between the Military Estate Officer representing Government of Pakistan and the lessee showed that the word "demise" had been used instead of word "lease" and the plot had been demised to the lessee with full, rights and liberty at all times to do all acts and things---Word "demise" had been used again and again in connection with transfer of rights in the plots in the said deed of lease---Plot had been demised in favour of lessee initially for a period bf 30 years with all rights of easements and appurtenances and the lease could be renewed at the option of the lessee for total period of 90 years---Notorious fact was that the lands in cantonment which were given on long lease by the Government of Pakistan to the lessee were a subject of routine purchase and sale---When the lessee sold the land to a purchaser, the purchaser stepped into the shoes of lessee with full rights and the lease deed was executed by the Government with that purchaser---Such leased land could also be gifted, disposed of through will and was inheritable on the death of the lessee---District Collector had notified the rates of these lands under the Stamp Act, 1899 for the purpose of registration---Lands in the Cantonment areas were generally very expensive as compared to the lands situated in other areas due to better civic amenities, better standard of cleanliness, better position of security etc.---Rights acquired in such lands were in nature of proprietary/ownership rights and these rights could be alienated through transfer/sale/gift/will/ inheritance etc. ---Appellate Tribunal held that…

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