ORDER

MOHAMMAD MUJIBULLAH SIDDIQUI (JUDICIAL MEMBER').--The above cross appeals are directed against the order dated 6-6-1982 by the learned Commissioner of Income-tax (Appeals) Zone-2, Karachi in ITA No. CIT (A) Z-2/1086, 1087, 1088 pertaining to assessment years 1979-80. 1980-81 and 1981-82. '2. Briefly stated the relevant facts are that the assessees (hereinafter referred to as the appellants) are joint owners, with definite shares, of the building known as Pakistan Handicrafts Chambers. The said multi-storeyed building has been let on hire to various tenants and has been subjected to wealth tax by the Wealth Tax Officer in the hands of A.O.F. for the assessment years 1979-80, 1980-81 and 1981-82. Originally five co-owners purchased a plot of land measuring 1,124 square yards, bearing No.251, R.A. Lines, Sir Haji Abdullah Haroon Road, Karachi vide sale deed-dated 22nd November, 1967. They constructed a multistoreyed building thereon having ground plus six floors. The original co-owners we...