Unexplained Cash Deposits and Section 115BBE: Applicability of Higher Rate of Tax

Unexplained cash deposits: prospective application of higher tax rate under Section 115BBE clarified for post-amendment assessments.

The assessing process treated certain cash receipts as unexplained under Section 69A read with the higher-rate taxation provision, but acceptance of an opening cash balance and maintenance of a cash book reduced the addition; contemporaneous records are decisive. The amendment imposing a special flat tax rate on unexplained income applies prospectively and does not operate retrospectively, so its applicability depends on the assessment year.