Section 115BBE of Income Tax Act "Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D."
115BBE. (1) Where the total income of an assessee,-
(a) includes any income referred to in section 68, section
69, section 69A, section 69B, section 69C or section 69D and
reflected in the return of income furnished under section
139; or
(b) determined by the Assessing Officer includes any income
referred to in section 68, section 69, section 69A, section
69B, section 69C or section 69D, if such income is not
covered under clause (a),
the income-tax payable shall be the aggregate of-
(i) the amount of income-tax calculated on the income
referred to in clause (a) and clause (b), at the rate of
sixty per cent; and
(ii) the amount of income-tax with which the assessee would
have been chargeable had his total income been reduced by
the amount of income referred to in clause (i).
(2) Notwithstanding anything contained in this Act, no
deduction in respect of any expenditure or allowance or set
off of any loss shall be allowed to the assessee under any
provision of this Act in computing his income referred to in
clause (a) and clause (b) of sub-section (1).