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2011 (1) TMI 431 - HC - Income TaxApplicability of section 142A - The revenue submitted that Section 142A being retrospective from 15.4.1972 applied for the assessment year in question and the Assessing Officer was justified in acting upon a valuation report and the Tribunal has based its decision on judgment in Smt.Amiya Bala Paul which decision has been superseded by the amendment - The proviso was not applicable as the assessment had not become final and conclusive in view of pendency of appeal in this Court - Reliance has been placed on judgment of Madhya Pradesh High Court in CIT v. Omparkash Bagria (HUF), wherein it was held that pendency of appeal under section 260A of the Act before High Court would exclude the applicability of the proviso - Section 254(4) specifically provides that finality of order of the Tribunal is subject to appeal under section 260A of the Act - Hence, answer the questions raised in favour of the revenue and against the assessee.
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