https://www.taxtmi.com/caselaws?id=253040 The Supreme Court held that the proviso to Section 113 of the Income Tax Act is prospective, not retrospective, in nature. It clarified that ambiguity in surcharge levy prior to the amendment led to inconsistent application. Emphasizing legislative intent and strict construction of tax statutes, the Court ruled that the proviso does not apply to block assessments before 1st June 2002. The Court overturned a previous decision, dismissing appeals by the Income Tax Department and allowing appeals by assessees to delete surcharge for pre-2002 block assessments. en-us Wed, 29 Oct 2014 00:00:00 +0530 Wed, 12 Nov 2014 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253040 The Supreme Court held that the proviso to Section 113 of the Income Tax Act is prospective, not retrospective, in nature. It clarified that ambiguity in surcharge levy prior to the amendment led to inconsistent application. Emphasizing legislative intent and strict construction of tax statutes, the Court ruled that the proviso does not apply to block assessments before 1st June 2002. The Court overturned a previous decision, dismissing appeals by the Income Tax Department and allowing appeals by assessees to delete surcharge for pre-2002 block assessments. Case-Laws Income Tax Wed, 29 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253040