https://www.taxtmi.com/caselaws?id=792196 Surrendered income offered during survey for assessment year 2017-18 was held not liable to the enhanced tax rate under section 115BBE. The Tribunal treated the amount as business income already taxed at normal rates and applied the view that the amended enhanced rate operated prospectively from 01.04.2017, i.e. from assessment year 2018-19 onwards. Accordingly, the surrendered income for the earlier year could not be taxed at the higher rate and remained taxable at normal rates. en-us Wed, 29 Apr 2026 00:00:00 +0530 Mon, 25 May 2026 08:14:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792196 Surrendered income offered during survey for assessment year 2017-18 was held not liable to the enhanced tax rate under section 115BBE. The Tribunal treated the amount as business income already taxed at normal rates and applied the view that the amended enhanced rate operated prospectively from 01.04.2017, i.e. from assessment year 2018-19 onwards. Accordingly, the surrendered income for the earlier year could not be taxed at the higher rate and remained taxable at normal rates. Case-Laws Income Tax Wed, 29 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792196