9911796707
TMI Blog1996 (1) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Tribunal may be directed to state the case and refer the following question of law for the opinion of the High Court : " Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is legally justified in remanding the case to the Wealth-tax Officer for valuation of the property as per Schedule III whereas such Schedule is effective from April 1, 1989, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... operty at substantially a higher figure. The Commissioner of Wealth-tax (Appeals), therefore, exercising his power under section 25(2) of the Act, set aside the assessment and directed the Wealth-tax Officer to make assessment afresh according to law taking into consideration the report of the District Valuation Officer and after affording proper opportunity of hearing to the assessee-appellant. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... therefore, is : whether the amended provisions relating to valuation, which came into operation on April 1, 1989, will apply in the present case ? The provisions relating to valuation of the property, contained in Schedule III to the Act, are procedural in nature and the procedural law is applicable to the pending cases also. The provisions are in the character of rules of evidence and, therefore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me Court in the aforesaid case, as such no referable question of law arises in the matter and the Tribunal was right in refusing to refer the question for the opinion of this court. In this view of the matter, since the controversy in the present case stands decided by the judgment of the Supreme Court in CWT v. Shrawan Kumar Swarup and Sons' case [1994] 210 ITR 886, we do not find any merit in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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