Supreme Court of India
Commissioner of Income Tax Central Ii v. Suresh N. Gupta
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1 Supreme Court bench has cited this judgment.
What the Court ordered
We hold that even without the proviso to Section 113 (inserted vide FA 2002 w.e.f. 1.6.2002), the FA 2001 was applicable to block assessment under Chapter XIV-B in relation to the search initiated on 17.1.2001 and accordingly surcharge was leviable on the tax G amounting to Rs. 97,456/-at 17% amounting to Rs. 16504/-. We accordingly answer the above question in favour of the revenue and against the assessee.
Judgment, page 28
From the headnote
Income Tax Act, 1961 - s. 4 (1) and proviso, 113, 132, Chapter XIV ; ss. 158 BA, 158 BB, 158 BF - Undisclosed income - Unearthed during search carried out on 17.1.2001 - c Levy of surchar.ge @ 17% on the tax calculated at 60% on the total undisclosed income by placing reliance on Finance Act, 2001 - Propriety of - Held: Surcharge was rightly imposed - Revenue could place reliance on Finance Act, 2001 for the purpose of 'block assessment' under Chapter XIV - Computation under Chapter XIV has to be read with computation of 'total income' under Chapter IV - Relevant date for applicability of the
Where later benches applied it
Of those, 1 referred to
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