CIRCULAR NO. 1 OF 1969 DATED 25/11/1969

GOODWILL--WHETHER LIABLE TO WEALTH-TAX -- CLARIFICATION REGARDING CIRCULAR NO. 1 OF 1969 DATED 25/11/1969 GOVERNMENT OF PAKISTAN CENTRAL BOARD OF REVENUE Islamabad, dated 25th November, 1969 Subject: GOODWILL--WHETHER LIABLE TO WEALTH-TAX -- CLARIFICATION REGARDING A question has been raised whether goodwill is an asset as per definition of asset given in Section 2(e) of the Wealth-Tax Act or not. After examining the issue it has been decided by the Board that "assets" as…