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(1) As per Section 115BBE, income tax shall be calculated at 60% where the total income of assessee includes income u/s 68, 69A,B,C,D.... In the present case its Unexplained money u/s 69A. Such tax rate of 60% will be further increased by 25% surcharge, 6% penalty, i.e., the final tax rate comes out to be 83.25% (including cess). Provided that such 6% penalty shall not be levied when the income under Section 68, 69, etc., has been included in return of income and tax has been paid on or before the end of relevant previous year. Income = [(145000x2) - 50000]=240000; Tax liability = Tax 2,40,000x60% +Surcharge (240000 x60%)x25% + Cess (Tax+Surcharge)x4% = 187200