COMMISSIONER OF WEALTH TAX Vs. S D NARAYANSA

JUDGEMENT

(1.) THE arguments of learned standing counsel for the Department are heard.

(2.) IN this petition, a prayer is made to direct the INcome-tax Appellate Tribunal to refer the following question of law arising out of its order dated April 3, 1998.

(3.) RELIANCE is placed on the decision given in the case of P. J. George v. CIT , wherein the Kerala High Court has held that the provisions of Schedule III came into force on April 1, 1989, and, therefore, in respect of the earlier assessments Schedule III could not be applied. In the case of CHTv. Sharvan Kumar Swarup and Sons , rule 1BB which came into force on April 1, 1979, was interpreted, and it was observed that (page 895) :