2006 (10) TMI 467

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..... quashing of order dt. 23rd Sept., 2004, Annex. P.1 to the extent of holding that surcharge under s. 113 of the IT Act, 1961 (for short, 'the Act') was payable for the block period 1st April, 1990 to 24th May, 2000, though the said provision was not in force during the relevant period. 2. Case of the petitioner is that search was conducted in the premises of the petitioner on 24th May, 200 .....

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..... ) 125'Ed.], decided on 16th May, 2006, dismissing the appeal of the Revenue against the order of the Tribunal to the effect that surcharge was leviable w.e.f. 1st June, 2002. 4. In the reply filed on behalf of the Revenue, it is submitted that in the present case, assessment year relevant to the year of search was the block period from 1st April, 1990 to 24th May, 2000. Though the provision w .....

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..... e Act." 6.1 Having regard to the fact that in the Finance Act, 2000, a specific provision has been incorporated, merely because addition in the IT Act has been incorporated only w.e.f. 1st June, 2002, did not affect liability of the assessee to pay surcharge. It is not possible to accept that a provision in a Finance Act, could not be given effect to unless the same was incorporated in the m .....

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