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2023 (2) TMI 33 - HC - Income TaxConstitutional validity of Section 115 BBE - Deposits cash in bank account during the demonetization period - Section 115 BBE as substituted by the Taxation Laws (Second Amendment) Act, 2016 w.e.f. 01.04.2017 pursuant to which the income determined by AO u/s 68, 69, 69A, 69B, 69C and 69D shall attract tax rate at 60% along with the application surcharge penalty - petitioner herein is saddled with the huge tax liability for the assessment year 2017-18 - action of the AO of issuing the notice for recovery of demand raised pursuant to the assessment under Section 143(3) of the Act. Assessee relied on the decision of Pragati Cooperative Bank Ltd [2005 (6) TMI 26 - GUJARAT HIGH COURT] to urge that the addition cannot be made in the account of the assessee Bank, which has already furnished the requisite KYC documents for the amount which has been deposited by the concerned account holder. HELD THAT:- Issue Notice, returnable on 31.01.2023. In the meantime, interim relief in terms of prayer clause 23(d) is granted. Over and above the regular mode of service, direct service through e-mode on official email address is also permitted.
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