https://www.taxtmi.com/caselaws?id=470473 A higher tax rate introduced from 1 April 2017 is described as prospective and therefore inapplicable to cash-deposit transactions undertaken during financial year 2016-17. The applicable tax treatment should instead follow the law in force before the amendment took effect. Where additional evidence concerning the source and taxability of disputed cash deposits is admitted, the material requires examination before the addition or enhancement can be determined. The notes state that a fresh assessment should be made on the expanded evidentiary record after providing the taxpayer an effective opportunity of hearing. en-us Fri, 21 Mar 2025 00:00:00 +0530 Tue, 28 Jul 2026 19:00:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470473 A higher tax rate introduced from 1 April 2017 is described as prospective and therefore inapplicable to cash-deposit transactions undertaken during financial year 2016-17. The applicable tax treatment should instead follow the law in force before the amendment took effect. Where additional evidence concerning the source and taxability of disputed cash deposits is admitted, the material requires examination before the addition or enhancement can be determined. The notes state that a fresh assessment should be made on the expanded evidentiary record after providing the taxpayer an effective opportunity of hearing. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470473