https://www.taxtmi.com/caselaws?id=256588 The Supreme Court held that the surcharge was not applicable to block assessments for the period 1989-1999. The proviso to Section 113 of the Income Tax Act was interpreted as prospective, with the amendment creating the surcharge being considered substantive and effective from 1.6.2002. The Court clarified that the intention was to relieve hardships for the assessee. The Tribunal's decision aligning with the Supreme Court's interpretation was upheld, dismissing the appeal and ruling in favor of the assessee without awarding costs. en-us Mon, 02 Feb 2015 00:00:00 +0530 Mon, 16 Feb 2015 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256588 The Supreme Court held that the surcharge was not applicable to block assessments for the period 1989-1999. The proviso to Section 113 of the Income Tax Act was interpreted as prospective, with the amendment creating the surcharge being considered substantive and effective from 1.6.2002. The Court clarified that the intention was to relieve hardships for the assessee. The Tribunal's decision aligning with the Supreme Court's interpretation was upheld, dismissing the appeal and ruling in favor of the assessee without awarding costs. Case-Laws Income Tax Mon, 02 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256588