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2011 (2) TMI 804 - AT - Income TaxRectification of order u/s 254(2) - Block assessment- Levy of surcharge u/s 113 to assessment years prior to introduction of it- Revenue challenging the relief granted in levy of surcharge in light of judgment of superior Court at later date through rectification. Held that:- Retrospective operation of the Supreme Court pronouncement on the interpretation of law can be made applicable only in the cases which have not been decided finally and the same is pending for adjudication. One cannot take advantage of the subsequent pronouncement of a superior Court in a closed and settled matter particularly in the matter decided and settled long back, in the guise of rectification. Decided against the Revenue.
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