Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 2014 (11) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (11) TMI 357 - SC - Income TaxLevy of surcharge on tax u/s 113 - Block assessment u/s 158BC – Effect of amendment w e.f. 2002 - Amendment retrospective or prospective - Held that:- Following the decision in Commissioner of Income Tax (Central) -I, New Delhi Versus Vatika Township Private Limited [2014 (9) TMI 576 - SUPREME COURT] - the intention of the legislature was to make it prospective in nature - The proviso cannot be treated as declaratory/statutory or curative in nature - the rate at which the tax is to be imposed is an essential component of tax and where the rate is not stipulated or it cannot be applied with precision, it would be difficult to tax a person - it has no retrospective effect - Decided against revenue.
|