The Proviso to section 113 imposing surcharge on block assessments is retrospective in operation

Rupa & Co. Ltd. Versus CIT (Calcutta HC)- Honorable High Court has held that  in the absence of any finding that any portion of the books of account maintained by the assessee was fictitious or contained wrong entry, the Assessing Officer was not entitled to make an average of discount without discarding the actual discount given by the assessee for the relevant year as appearing from the books of account. An assessee has a right to give different rates of discount to his different customer depending upon his relation with such customer or on the basis of business policy depending upon t...