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2019 (1) TMI 113 - HC - Income TaxAO's power to levy surcharge - Effective date of proviso appended to Section 113 of the Income Tax Act vide Finance Act, 2002 - Amendment retrospective or prospective - Held that:- Held that:- The issue has been decided by the Hon'ble Supreme Court in favour of the assessee and against the Revenue in the case of CIT (Central)-I Vs. Vatika Township Private Limited [2014 (9) TMI 576 - SUPREME COURT]. As considered by the Hon'ble Supreme Court, was as to whether levy of surcharge, which was introduced by insertion of Proviso to Section 113 of the Income Tax Act, 1961, could be made retrospective. If the Enactment is expressed in language, which is fairly capable of either interpretation, it ought to be construed as prospective only. Thus, following the above decision, the substantial questions of law, framed for consideration, are answered in favour of the assessee.
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