COMMISSIONER OF WEALTH TAX Vs. P M ITOOP

JUDGEMENT

(1.) WE find no substance in this reference. In the case of CWT v. Sharvan Kumar Swamp and Sons,, 1995 ECR 425, it has been held that the rules providing for method of valuation under the WEalth-tax Act are not substantive but procedural law and that the provisions of the amended rules are applicable to all pending proceedings. The court, inter alia, held (headnote) :

(2.) THE court has also observed that procedural law, generally speaking, is applicable to pending cases and that no suitor can be said to have a vested right in procedure.