https://www.taxtmi.com/caselaws?id=66334 The Tribunal determined that the levy of surcharge under the Finance Act, 2002, on undisclosed income in block assessments prior to the enactment of the proviso to section 113 on 1-6-2002 is invalid. It emphasized that the Finance Act lacked retrospective effect, and any new levy must be explicitly stated and cannot apply retroactively. The Tribunal underscored the importance of clear legislative intent and the principle that special provisions, such as those in Chapter XIVB of the Income-tax Act, override general provisions. Consequently, the surcharge on tax for the block period from 1-4-1989 to 18-11-1999 was deemed unlawful. en-us Wed, 26 Apr 2006 00:00:00 +0530 Tue, 19 Mar 2024 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66334 The Tribunal determined that the levy of surcharge under the Finance Act, 2002, on undisclosed income in block assessments prior to the enactment of the proviso to section 113 on 1-6-2002 is invalid. It emphasized that the Finance Act lacked retrospective effect, and any new levy must be explicitly stated and cannot apply retroactively. The Tribunal underscored the importance of clear legislative intent and the principle that special provisions, such as those in Chapter XIVB of the Income-tax Act, override general provisions. Consequently, the surcharge on tax for the block period from 1-4-1989 to 18-11-1999 was deemed unlawful. Case-Laws Income Tax Wed, 26 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66334