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TMI Blog2014 (6) TMI 114X X X X Extracts X X X X X X X X Extracts X X X X ..... e (for short 'the First Appellate Authority') and the Assessing Authority insofar as levy of surcharge for the block assessment period from 01-04-1989 to 28-01-2000. 2. The appeal was admitted for considering the following substantial question of law: Whether the Tribunal was correct in setting aside the order of the Appellate Commissioner that no surcharge can be levied despite the assessee having admitted that the surcharge is payable for the assessment year 2000-2001 before the Appellate Commissioner corresponding to the said Financial year? 3. The learned counsel appearing for both the parties submit that the substantial question of law raised in this appeal is covered by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es, Parliament, has opted for the date, namely, the year in which the search is initiated, which date would be relevant for applicability of a particular FA. Therefore, we have to read the proviso as it stands. 38. There is one more reason for rejecting the above submission. Prior to 1st June, 2002, in several cases, tax was prescribed sometimes in the 1961 Act and sometimes in FA and often in both. This made liability uncertain. In the present case, however, the rate of tax in case of block assessment at 60 per cent was prescribed by S.113 but the year of FA imposing surcharge was not stipulated. This resulted in the above four ambiguities. Therefore clarification was need ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he 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. Hence, the following order: 1. Appeal is allowed 2. The impugned order passed by the Tribunal is hereby set aside. 3. The orders passed by the Assessing Authority and the Appellate Commissioner is restored. 4. However, the Assessing Officer shall await the decision of the larger Bench of the Apex Court and depending on the decision to be rendered by the Apex Court to give effect to the order. Matter remanded." 4. In view of the authoritative pronouncement, the substantial question of law is answered in favour of the Revenue and against the assessee. However, the Assessing Officer shall await the deci ..... X X X X Extracts X X X X X X X X Extracts X X X X
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