COMMISSIONER OF WEALTH TAX Vs. LALA NARENDRA LAL

JUDGEMENT

(1.) THIS is an application under S. 27(1) of the WT Act in which the following question was sought to be referred :

(2.) IT has been held by the Supreme Court in CWT vs. Sharvan Kumar Swarup and Sons (1994) 122 CTR (SC) 380 : (1994) 210 ITR 886 (SC) that r. 1BB which has come into forced from 4th Jan., 1979 was intended to impart uniformity in valuation and to avoid vagaries and disparities resulting from application of different modes of valuation in different cases and hence is applicable to pending cases.