Enhanced tax rate of 60% u/s. 115BBE not Applicable to cash deposits during demonetisation? Recently got an occasion to represent an assessee before Hon’ble ITAT Ahmedabad where cash deposits made in bank account during demonetization were taxed at enhanced rate of 60% u/s. 115BBE (effectively 77.25% with surcharge & cess). It was submitted that…
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