The Commissioner Of Income Tax v. M/S.ambika Diamonds

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.791 OF 2008 The Commissioner of Income Tax,..AppellantVs.M/s.Ambika Diamonds..RespondentMrs.Anamika Malhotra for the Appellant.Mr.Deepak Tralshawalla a/w. Mr.Vishnu S.Hadade forthe Respondent. CORAM :- DR.S.RADHAKRISHNAN &S.J.KATHAWALLA, JJ.DATE : 2ND SEPTEMBER, 2008 P.C. .Heard the learned Counsel for the parties.The above Appeal is admitted on the followingsubstantial question of law. The learned Counsel forthe Respondent waives service.a. Whether on the facts and in thecircumstances of the case and in law, theLearned CIT (A) has erred in directing theAssessing Officer not to levy surcharge @ 2%without appreciating the true intention of thelegislature while enacting the provisions ofsection 113 w.e.f. 01/06/2002 as also thelegal backing for levy of the surcharge @ 2%on the demand arising out of block assessmentproceedings? (S.J.KATHAWALLA,J.) (DR.S.RADHAKRISHNAN,J.)