Case Law Analysis
|Income Tax Appellate Tribunal
Section 115BBE Income Tax Act | Enhanced Tax Rate Applies Prospectively from AY 2018-19 Onwards : ITAT Delhi
ITAT Delhi holds that the enhanced tax rate under Section 115BBE of the Income Tax Act applies only from Assessment Year 2018-19 onwards, directing normal tax rates for surrendered income in AY 2017-18. The ruling clarifies the prospective applicability of the provision, impacting tax assessments for undisclosed income surrendered during survey proceedings.