TaxTMI 
TaxTMI 
2026 (9) TMI 1141
X X X X Extracts X X X X
X X X X Extracts X X X X
....ions of section 115BBE of the Act has been upheld. The solitary grievance raised by the assessee before us is against the applicability of the higher rate of tax under section 115BBE to the surrendered income of Rs. 30,00,000/-. 2. At the outset, the Registry pointed out that there is a delay of 8 days in filing the present appeal. The Ld. AR prayed for condonation of delay. 3. The Ld. DR opposed the application for condonation of delay. 4. I have heard both the parties and request for seeking condonation of delay. Upon consideration of the facts and circumstances of the case, and the reasons explained therein, I am satisfied that the assessee was prevented by sufficient and reasonable cause from filing the appeal within the prescr....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he matter before the Ld. CIT(A). The Ld. CIT(A), after considering the submissions of the assessee, held that charging tax at the normal rate instead of the rate prescribed under section 115BBE constituted a mistake apparent from the record and, therefore, the Assessing Officer had rightly exercised jurisdiction under section 154. Accordingly, the appeal of the assessee was dismissed. 7. Against the order of the Ld. CIT(A) the assessee preferred an appeal before the Tribunal. 8. During the course of hearing, the Ld. AR submitted that the solitary controversy involved in the present appeal is whether the surrendered income is liable to be taxed at the enhanced rate of 60% under section 115BBE or at the normal rate of 30%. 8.1 It was....
X X X X Extracts X X X X
X X X X Extracts X X X X
....red income of the assessee is liable to be taxed at the enhanced rate prescribed under section 115BBE of the Act. 10.1 The Ld. AR has placed reliance upon the recent judgment of the Hon'ble Rajasthan High Court in Deepak Maratha vs. Union of India, D.B. Civil Writ Petition No. 3625/2020, reported as 2026:RJ-JD:26319-DB, wherein the Hon'ble High Court examined the scope and applicability of the amendment made to section 115BBE by the Taxation Laws (Second Amendment) Act, 2016. 10.2 The Hon'ble High Court, after considering the legal position relating to retrospectivity of fiscal statutes, summarized the legal principles in paragraph 17 of the judgment as under: "(i) The law applicable to an assessment year is th....