|DATE:||(Date of pronouncement)|
|DATE:||February 26, 2009 (Date of publication)|
The Proviso to s. 113 is retrospective
The Provio to s. 113 (which imposes surcharge on block assessments), though inserted only with effect from 1.6.2002, is applicable to searches conducted prior to that date as it is ‘clarificatory’ and ‘curative’ in nature.
CIT vs. Suresh N. Gupta 297 ITR 322 (SC) followed.
Note: It appears the attention of the Bench was not drawn to the fact that in CIT vs. Vatika Township (P) Ltd. (2009) 17 DTR 353 (SC) / (2009) 221 CTR 409 (SC) the issue has been referred to a larger Bench.
See Also: The bane of retrospective amendments by N. M. Ranka, Advocate and Interpretation of Statutes by Sorabh Soparkar, Advocate.