9911796707
TMI Blog2007 (2) TMI 183X X X X Extracts X X X X X X X X Extracts X X X X ..... Mds/ 2003, dated January 6, 2004. The facts in brief are: There was a search conducted by the Revenue officials under section 132 of the Income-tax Act, 1961, in the residence as well as in the business premises of the assessee on November 23, 2000, and it was concluded on March 14, 2001, and a block assessment was framed for the block period April 1, 1990, to November 22, 2000, and an order was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the facts and circumstances of the case, the Tribunal was right in holding that surcharge is not applicable to block assessments if the search took place prior to introduction of the proviso to section 113 with effect from June 1, 2002?" Heard both sides. With regard to the issue raised, viz., whether surcharge could be levied for the block assessments if the search was conducted prior to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : '113. Tax in the case of block assessment of search cases.- The total undisclosed income of the block period, determined under section 158BC, shall be chargeable to tax at the rate of sixty per cent.: Provided that the tax chargeable under this section shall be increased by a surcharge, if any, levied by any Central Act and applicable in the assessment year relevant to the previous year in w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ade under section 132A. This amendment will take effect from June 1, 2002. We have perused section 113 of the Act, especially the proviso added on June 1, 2002, which provides for levy of surcharge. Counsel could not dispute that the same has not been given retrospective effect on the language of clause 41 of the Notes on Clauses is in clear terms. Since the search in the present case was co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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