https://www.taxtmi.com/highlights?id=104814 Section 115BBE applies only after income is validly classified under the specified deeming provisions; a survey surrender alone is insufficient. Excess stock inseparable from regular inventory and credibly linked to unrecorded business receipts may be assessed as business income under Section 28 at normal rates. Excess cash may receive the same treatment where its business source is satisfactorily explained; otherwise, the statutory conditions for deemed income must be met. Classification requires a holistic assessment of statements and contemporaneous evidence. The substituted enhanced rate applies prospectively from financial year 2017-18, while financial year 2016-17 is governed by the earlier rate. en-us Sat, 10 Oct 2026 12:00:59 +0530 Sat, 10 Oct 2026 12:00:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104814 Section 115BBE applies only after income is validly classified under the specified deeming provisions; a survey surrender alone is insufficient. Excess stock inseparable from regular inventory and credibly linked to unrecorded business receipts may be assessed as business income under Section 28 at normal rates. Excess cash may receive the same treatment where its business source is satisfactorily explained; otherwise, the statutory conditions for deemed income must be met. Classification requires a holistic assessment of statements and contemporaneous evidence. The substituted enhanced rate applies prospectively from financial year 2017-18, while financial year 2016-17 is governed by the earlier rate. Highlights Income Tax Sat, 10 Oct 2026 12:00:59 +0530 https://www.taxtmi.com/highlights?id=104814