1988 (2) TMI 122

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..... and in the circumstances of the case the Tribunal is justified in holding that s. 7(4) of the WT Act inserted by the Finance Act 1976 is procedural in nature and is applicable to all the pending assessments including the assessment prior to the asst. yr. 1976-77." In the order Tribunal following the decision of Special Bench in WTO vs. Niranjan Narottam reported in 14 ITC 300 (SB) held that s. 7 .....

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..... l was justified and legally correct in applying the provisions of s. 7(4) of the WT Act which were effective from 1st April, 1976 and holding that the valuation of the property for the asst. yrs. 1973-74 to 1975-76 be taken at Rs. 2,38,000 for each year, subject to the self-occupancy allowance." Their Lordships held that 'after hearing the learned counsel we agree with the view of the Tribunal t .....

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..... nsel for the assessee also drew our attention to decision of Gujarat High Court in the case of CWT vs. Kasturbai Mayabai (1986) 51 CTR (Guj)309 : (1987) 164 ITR 107 (Guj) wherein their Lordships of Gujarat High Court held r. 1-BB and ss. 7 (3) and 7 (4) of the WT Act as procedural in character and applicable to all pending proceedings. The learned counsel also relied on the decision of the Hon'ble .....

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