Held that the proviso to section 113 of the Income-tax Act, 1961 inserted by the Finance Act, 2002, has the prospective effect and the assessees were not liable to pay the surcharge thereunder. Followed CIT v. VATIKA TOWNSHIP PVT. LTD. [2014] 367 ITR 466 (SC). The decision of the Karnataka High Court in CIT v. K. L. SRIHARI [2011] 335 ITR 215 (Karn) reversed this point. (AY.BP. 1-4-1986 to 13-2-1997)
K. L. Swamy v. CIT (2023) 451 ITR 1 / 221 DTR 401 / 330 CTR 457 (SC) K.L. Srihari v. CIT (2023) 451 ITR 1 / 221 DTR 401/ 330 CTR 457 (SC) Khoday Breweries Ltd v. CIT 2023)451 ITR 1 / 221 DTR 401/ 330 CTR 457 (SC)
S. 113 : Tax-Block assessment-Search cases-Surcharge-Not leviable on undisclosed income pertaining to a period prior to 1-6-2002. [S. 132, 158BD, 158BFA]