60% Tax Under Section 115BBE Not Applicable Before 1 April 2017

Nidesh Jain Vs ACIT (ITAT Hyderabad)

Cash Deposit Explained Partly, 60% Tax Denied: ITAT Hyderabad Restricts s.115BBE to 30% for AY 2017-18

partly allowed the assessee’s appeal involving cash deposits and the harsh tax rate u/s 115BBE.

The Assessee, a Chartered Accountant, had deposited ₹20.65 lakh in cash in

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