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TMI Blog2013 (4) TMI 371X X X X Extracts X X X X X X X X Extracts X X X X ..... Suresh N. Gupta (2008 (1) TMI 396 - SUPREME Court )- The ratio of the said judgment appears to be that in case of block assessment, even prior to amendment made in Section 113 of the Act w.e.f. 01.06.2002, surcharge was leviable - Further it has been held that the amendment made w.e.f. 01.06.2002 was only clarificatory in nature. - Decided in favor of revenue. - Income Tax Appeal No.-204 of 2006 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as :- "We have carefully considered the submissions of the learned representatives of the parties and have perused the records of the case. The assessee had surrendered the entire investment in the pawned business, which included the reinvestment of interest income earned by the assessee from this business. It is not disputed that in the cases of other members of this group, the income was asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Finance Act, 2002 is only clarificatory in nature and the Finance of the relevant year clearly provided for levy of surchage on Income Tax calculated as per the provisions of Section 113 of the Act. 2.Whether on the facts and circumstances of the case, the Hon'ble Tribunal was justified in upholding the order of the CIT(A), who deleted the addition of Rs.1,06,460/- made on account of undisclose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d failed to discharge the burden of proving to the satisfaction of the assessing officer that any undisclosed income has already been disclosed in any return of income filed by the respondent before the commencement of search." The first and second questions as hereinabove, are the only the substantial questions of law, whereas the third one appears to be supplementary to the second. During th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been held that the amendment made w.e.f. 01.06.2002 was only clarificatory in nature. Accordingly, the impugned order of Tribunal is hereby set aside and the order of the A.O. pertaining to the surcharge is restored. Thus, the answer to question no.1 is in favour of revenue. Now coming to second substantial question of law, as the tax effect is below Rs.4.0 lacs, the appeal would obviously not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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