- (1.) THE Tribunal, Allahabad, has referred the following question of law under s. 27(3) of the WT Act, 1957 (hereinafter referred to as 'the Act') for opinion to this Court : "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in directing to compute the 1979 -
(2.) REFERENCE relates to the asst. yrs. 1969 -70 to 1974 -75.
(3.) WE have heard Sri A.N. Mahajan, learned standing counsel for the Revenue. Nobody has appeared on behalf of the respondent. The question referred in the present reference is squarely covered by the decision of the apex Court in the case of CWT vs. Sharvan Kumar Swarup & Sons (1994) 122 CTR (SC) 380 : (1994) 210 ITR 886 (SC). The apex Court in the aforesaid decision has held that r. 1BB of the WT Rules is procedural in nature and applies retrospectively to all pending assessments. Thus, it is applicable for the asst. yrs. 1969 -70 to 1974 -75 even though it came on the statute book on 1st;