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In the assessment of Mr. Amar, the Assessing Officer has observed that he has purchased diamonds for 18 lakhs on 1st October, 2017 which was not recorded in the books of account and he is unable to offer any explanation. Applicable rate of income tax leviable under section 115BBE is _____________ plus surcharge and education cess as applicable.

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The syllabus (and study weightage):
A. Advanced Direct Tax Laws 50%
B. International Taxation 30%
C. Case Study Analysis 20%


In the assessment of Mr. Amar, the Assessing Officer has observed that he has purchased diamonds for 18 lakhs on 1st October, 2017 which was not recorded in the books of account and he is unable to offer any explanation. Applicable rate of income tax leviable under section 115BBE is _____________ plus surcharge and education cess as applicable.






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