https://www.taxtmi.com/caselaws?id=433518 The HC granted interim relief to the petitioner by staying the enforcement of the tax recovery demand, pending the outcome of the appeal before CIT (Appeals). The challenge pertains to the constitutional validity of Section 115 BBE of the Income Tax Act, 1961, which imposes a 60% tax rate on certain undisclosed incomes. The Court issued a notice returnable by 31.01.2023, allowing direct service via email. The decision reflects a careful balance between the petitioner's concerns over substantial tax liability and the Assessing Officer's actions, ensuring a fair resolution pending further legal proceedings. en-us Tue, 10 Jan 2023 00:00:00 +0530 Fri, 20 Dec 2024 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433518 The HC granted interim relief to the petitioner by staying the enforcement of the tax recovery demand, pending the outcome of the appeal before CIT (Appeals). The challenge pertains to the constitutional validity of Section 115 BBE of the Income Tax Act, 1961, which imposes a 60% tax rate on certain undisclosed incomes. The Court issued a notice returnable by 31.01.2023, allowing direct service via email. The decision reflects a careful balance between the petitioner's concerns over substantial tax liability and the Assessing Officer's actions, ensuring a fair resolution pending further legal proceedings. Case-Laws Income Tax Tue, 10 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433518