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2011 (2) TMI 365 - HC - Income TaxSurcharge on income - Undisclosed income - Search - Block assessment - Whether the surcharge on income tax in terms of Section 113 of the Act would be leviable where search and seizure had taken place prior to 1.6.2002 - The similar issue came up for consideration before the Hon’ble Supreme Court of India in Suresh N. Gupta’s case , wherein it was held that the proviso to Section 113 which was inserted by Finance Act, 2002 was curative in nature - The proviso to Section 113, inserted vide Finance Act, 2002, with effect from June 1, 2002, was applicable to block assessments under Chapter XIV-B of the Act and surcharge on income tax would be imposable even in those cases where search had taken place prior to 1.6.2002 of the particular year in which search had taken place - Therefore, question of its retrospective effect did not arise - Hence, the appeal is allowed in favour of the Revenue.
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