60% Tax Under Section 115BBE Cannot Apply Retrospectively: Rajasthan HC

Deepak Maratha S/o Ramchandra Maratha Vs Union of India (Rajasthan High Court) Rajasthan HC Rules 60% Tax Under Section 115BBE Cannot Apply Retrospectively Because Amendment Was Effective Only From 01.04.2017;  Demonetization-Era Cash Deposits Not Liable to 60% Tax Because Section 115BBE Amendment Was Prospective;  Consequential Penalty Under Section 271AAC Cannot Apply Retrospectively Because It Depends on Section 115BBE The Rajasthan High Court examined whether the enhanced tax rate introduced by the Taxation Laws (Second Amendment) Act, 2016 under Section 115BBE of the Income Tax Act coul...