https://www.taxtmi.com/caselaws?id=18619 Amended valuation provisions and Schedule III under the Direct Tax Laws (Amendment) Act, 1989 were treated as procedural machinery for determining asset value under the Wealth-tax Act. Because the change prescribed the method or manner of valuation, it was held to apply to pending wealth-tax appeals relating to earlier assessment years, absent a clear contrary indication in the statute. The operative effect was that the amended valuation rules governed matters still pending when the amendment came into force, and the question was answered in favour of the assessee and against the Revenue. en-us Wed, 11 Oct 1995 00:00:00 +0530 Fri, 30 Oct 2009 17:33:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18619 Amended valuation provisions and Schedule III under the Direct Tax Laws (Amendment) Act, 1989 were treated as procedural machinery for determining asset value under the Wealth-tax Act. Because the change prescribed the method or manner of valuation, it was held to apply to pending wealth-tax appeals relating to earlier assessment years, absent a clear contrary indication in the statute. The operative effect was that the amended valuation rules governed matters still pending when the amendment came into force, and the question was answered in favour of the assessee and against the Revenue. Case-Laws Wealth-tax Wed, 11 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18619