1. - This writ petition is directed against the assessment order dated 5.10.2001 passed by the Assistant Director, Land and Building Tax Department, Kota, under the provisions of Rajasthan Land and Building Tax Act, 1964 (for short, hereinafter referred to as 'Act of 1964') raising demand of land and building tax under the said Act to the tune of Rs. 2,49,939/- vide Annexure-9 demand notice dated 11.1.2002 assessing the market value of the land and building of the assessee as on 1.4.2008. The assessee runs 'Sawan Phuhar Water Park at Bundi Road, Kota'.

2. Mr. Anant Kasliwal, learned counsel for the petitioner- assessee submitted that though the said Land and Building Tax Act, 1964 now survives on the statute book but vide the notifications dated 12.7.2004, 24.3.2005, quoted below, the levy of said tax has since been exempted in pursuance of the Budget Speech of Finance Minister, Government of Rajasthan, Dr. Pradhuman Singh, on 5.3.2003. The relevant extract of the Budget Speech and the Notifications are quoted below:

Relevant Portion of Budget Speech:

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