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2011 (7) TMI 572 - HC - Income TaxLiability to pay surcharge - Held that:- As the law stands today surcharge is payable by the assessee. In the event of the larger Bench of the Supreme Court reversing the judgment of CIT v. Vatika Township (P.) Ltd. [2009 (1) TMI 217 - SUPREME COURT] and holding surcharge is not leviable, the assesseee is absolved of the liability to pay surcharge. Therefore, the proper order to be passed is to set aside the order of the Tribunal and remit the matter to the Assessing Authority with the direction to await the judgment of the Apex Court and consequent to the order passed by the larger Bench to give effect to our order - Appeal is allowed.
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