REGENT COMPUTRONICS PVT. LTD.

COMMISSIONER OF WEALTH TAX Appellant

V/S

O.P. TANDON Respondents

Referred Judgements :-

JUDGEMENT

(1.) BY this judgment, we propose to answer the following question referred to this Court for its opinion by the Revenue under S. 27(1) of the WT Act, 1957 (hereinafter referred to as "the Act") : "Whether, on the facts and in the circumstances of the case, the Tribunal erred in holding that r. 1BB of the WT Rules could be applied for the valuation of properties Nos. 77, 178 and 179, Rajpur Road, Dehradun, and No. 23, Darya Ganj, Delhi, for the assessment year 1978 -79, although the said rule was enacted from 1st April, 1979 -

(2.) THE assessees are owners of properties bearing Nos. 77, 178 and 179, Rajpur Road, Dehradun, and No. 23, Darya Ganj, Delhi. The CWT (Appeals) directed the ITO to value the said properties in accordance with r. 1BB of the WT Rules. The Revenue challenged the said direction on the ground that r. 1BB which was enacted w.e.f. 1st April, 1979, could not be applied to the asst. year 1978 -79. The Tribunal rejected this contention holding that r. 1BB was of a procedural nature and, therefore, would apply to an assessment which was pending at the time when the rule came into effect.

(3.) BEFORE proceeding further, it may be worthwhile to notice the relevant provisions of the WT Act and the Rules as in force at the relevant time.

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COMMISSIONER OF WEALTH TAX Vs. TANDON O P

Referred Judgements :-

JUDGEMENT

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