Supreme Court · 2008 INSC 14 · Decided 7 January 2008
Commissioner of Income Tax Central Ii v. Suresh N. Gupta
- Court
- Supreme Court of India
- Citation
- 2008 INSC 14 · [2008] 1 S.C.R. 157
- Case number
- CIVIL APPEAL No. 32/2008
- Decided
- 7 January 2008
- Bench
- S.H. KAPADIA, B. SUDERSHAN REDDY (2-judge bench)
- Outcome
- Case Allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 271; Income Tax Act Section 4(1), 132, 15888
Headnote
Income Tax Act, 1961 - s. 4 (1) and proviso, 113, 132, A B Chapter XIV B; 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, Surcharge was rightly imposed - Revenue could place reliance on Finance Act, 2001 for the purpose of 'block assessment' under Chapter XIV B - Computation under Chapter XIV B has to be read with D computation of 'total income' under Chapter IV - Relevant date for applicability of the Finance
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)