https://www.taxtmi.com/caselaws?id=402889 HC upheld that the Taxation Laws (Second Amendment) Act, 2016 and the Finance Act surcharge operate as enhancements of tax rates, not as retrospective new liabilities. The Court held the 60% rate under s.115BBE (effective 01.04.2017) and the 25% surcharge (effective in the Financial Year 2016-17) apply from the commencement of the relevant assessment year and therefore govern assessments for that year. The amendments were enacted to curb tax evasion and do not derive from demonetisation; surcharge forms part of income-tax and falls within s.4 of the IT Act. en-us Wed, 23 Sep 2020 00:00:00 +0530 Mon, 29 Sep 2025 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402889 HC upheld that the Taxation Laws (Second Amendment) Act, 2016 and the Finance Act surcharge operate as enhancements of tax rates, not as retrospective new liabilities. The Court held the 60% rate under s.115BBE (effective 01.04.2017) and the 25% surcharge (effective in the Financial Year 2016-17) apply from the commencement of the relevant assessment year and therefore govern assessments for that year. The amendments were enacted to curb tax evasion and do not derive from demonetisation; surcharge forms part of income-tax and falls within s.4 of the IT Act. Case-Laws Income Tax Wed, 23 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402889