1991 (8) TMI 60

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....ome-tax Appellate Tribunal has referred the following two questions to this court: " 1. Whether, on the facts and in the circumstances of the case, the provisions of section 144B of the Income-tax Act, 1961, pertained to the branch of procedural law and the same applied to all income-tax proceedings pending on January 1, 1976, irrespective of the assessment year to which those proceedings relat....

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....uld not be invoked as had been done by the Income-tax Officer. Nevertheless, the Commissioner of Income-tax (Appeals) did not accept the valuation of the property as on January 1, 1954, as put by the assessee. Second appeals were filed to the Tribunal and it was, inter alia, urged that the proceedings for the years in question under section 144B of the Act were illegal and void inasmuch as sect....

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....on 144B are procedural in nature. This being so, the said provision would apply even in relation to the assessment years prior to January 1, 1976, with regard to those assessments which were not complete. (See Sonai River Tea Co. Ltd. v. CIT [1990] 182 ITR 162 (Gauhati) ; Banarsidas Bhanot and Sons v. CIT [1981] 129 ITR 488 (MP) ; K. U. Srinivasa Rao v. CWT [1985] 152 ITR 128 (AP); Imam (H. S.) v.....