https://www.taxtmi.com/caselaws?id=17538 The amended valuation provisions in Schedule III of the Wealth-tax Act, 1957 were treated as procedural in character and therefore applicable to pending assessment proceedings. On that basis, market value was to be determined under the law in force when the assessment was made, and the Tribunal was justified in directing adoption of Schedule III. The settled Supreme Court position on the procedural nature of the valuation rule meant that no independent referable question of law survived for consideration. en-us Tue, 16 Jan 1996 00:00:00 +0530 Wed, 23 Sep 2009 11:51:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17538 The amended valuation provisions in Schedule III of the Wealth-tax Act, 1957 were treated as procedural in character and therefore applicable to pending assessment proceedings. On that basis, market value was to be determined under the law in force when the assessment was made, and the Tribunal was justified in directing adoption of Schedule III. The settled Supreme Court position on the procedural nature of the valuation rule meant that no independent referable question of law survived for consideration. Case-Laws Wealth-tax Tue, 16 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17538