(1) The Tribunal shall exercise such powers of appeal, reference or revision as are vested in it by or under this Act or any other law for the time being in force.
(2) All appellate and revisional powers vested in or exercisable under any law by the Tribunal constituted under the 1[Karnataka]1 Revenue Appellate Tribunal Act, 1957 ([Karnataka]1 Act 24 of 1957), before the commencement of this Act, shall stand transferred to and be exercisable by the Tribunal constituted under section 40 and any reference in any law to the Mysore Board of Revenue or to the Mysore Revenue Appellate Tribunal 1[or to the Karnataka Revenue Appellate Tribunal]1 shall be construed as a reference to the Tribunal constituted under section 40.
(3) The State Government may, by notification, confer upon or entrust to the Tribunal any appellate or revisional power or function assigned to the State Government or other authority or officer by or under any law for the time being in force, and the Tribunal shall be competent to exercise the powers or discharge the functions so conferred or entrusted.