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2015 (8) TMI 550 - AT - Income TaxChallenging the levy of surcharge u/s 113 - block assessment - Held that:- The Hon'ble Supreme Court in the case of Vatika Township Pvt. Ltd. (2014 (9) TMI 576 - SUPREME COURT) has held that the proviso appended to Section 113 by Finance Act, 2002 is to operate prospectively w.e.f. 1st June, 2002. As in this case the search was conducted on 16th of December, 1999; therefore, surcharge is not to be levied. We accordingly allow this Application of the Assessee. - Decided in favour of assessee.
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