Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Enhanced tax rate under section 115BBE, increased from 30% to...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrendered cash.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Enhanced tax rate under section 115BBE, increased from 30% to 60% by the Taxation Laws (Second Amendment) Act, 2016, applies prospectively from 1 April 2017 where no retrospective operation is expressly provided. For unexplained income falling within section 69A in Financial Year 2016-17, tax is therefore computed at the pre-amendment rate, subject to applicable surcharge and cess. Cash deposited subsequently may be telescoped against cash surrendered during survey only after verifying that the surrendered cash and available cash balance existed on the deposit date and had not been used in the interim. No separate addition survives to the verified extent of such source availability.
Enhanced tax rate under section 115BBE, increased from 30% to 60% by the Taxation Laws (Second Amendment) Act, 2016, applies prospectively from 1 April 2017 where no retrospective operation is expressly provided. For unexplained income falling within section 69A in Financial Year 2016-17, tax is therefore computed at the pre-amendment rate, subject to applicable surcharge and cess. Cash deposited subsequently may be telescoped against cash surrendered during survey only after verifying that the surrendered cash and available cash balance existed on the deposit date and had not been used in the interim. No separate addition survives to the verified extent of such source availability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
