JUDGMENT:

MUHAMMAD JUNAID GHAFFAR, JUSTICE:--All these Petitions involve a common legal question and are therefore, being decided through this common Judgment. The Petitioners have challenged the provisions of Section 7E of the Income Tax Ordinance, 2001 (�Ordinance�) introduced through Finance Act, 2022, on the ground that it is ultra vires to the Constitution and so also discriminatory; confiscatory; hence, void, ab-initio and liable to be struck down.2. At the very outset we may state, and this is without disrespect to any of the learned Counsel for the Petitioners as well as Respondents, that their arguments have been noted and recorded in this judgment collectively for ease, convenience and to avoid overlapping, if any. Petitioners Counsel[1] have contended that Section 7E of the Ordinance imposes tax on property which is not within the competence of the Federal Legislature pursuant to Entry 50 of the Federal Legislative List provided in the Fourth Schedule to the Constitution of the Islami...