https://www.taxtmi.com/caselaws?id=180630 The ITAT upheld the CIT(A)'s decision to allow the set off of losses against undisclosed income for the block period, citing precedents where losses in block assessments were permitted to be set off. Additionally, the ITAT agreed with the CIT(A) in deleting the surcharge imposed under section 113 of the Income-tax Act, stating that the provision was not applicable retrospectively. As a result, the Revenue's appeal was dismissed on both grounds, emphasizing the reliance on precedents and the prospective application of relevant amendments. en-us Thu, 10 Nov 2005 00:00:00 +0530 Wed, 30 Mar 2016 18:25:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180630 The ITAT upheld the CIT(A)'s decision to allow the set off of losses against undisclosed income for the block period, citing precedents where losses in block assessments were permitted to be set off. Additionally, the ITAT agreed with the CIT(A) in deleting the surcharge imposed under section 113 of the Income-tax Act, stating that the provision was not applicable retrospectively. As a result, the Revenue's appeal was dismissed on both grounds, emphasizing the reliance on precedents and the prospective application of relevant amendments. Case-Laws Income Tax Thu, 10 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180630