The Delhi High Court has held that initiation of prosecution under Section 51 of the Black Money Act, 2015 is not dependent on completion of assessment proceedings initiated against an accused under Section 10 to determine tax evasion. It is relevant to note that the assessment under the Black Money Act is being made under Section 10, which falls in …
Union Minister Nirmala Sitharaman tabled the Finance Bill in the parliament as part of the Union Budget 2024-25, which included an amendment to the Black Money Act. Central Board of Direct Taxes Chairman Ravi Agarwal stated on 25 July that the amendment in the Black Money Act would provide taxpayers relief from penalty when a situation arises if they fail …
An appellate tribunal in Delhi has ruled that fugitive arms dealer Sanjay Bhandari created assets in London and Dubai, which he didn’t disclose to the income tax authorities to evade tax, violating the black money act of 2015. “In the instant case, Bhandari indulged in evasion of tax under Section 3 and 4 of the act of 2015,” the judgement …
The Delhi Bench of the Income Tax Appellate Tribunal has held that once additions have been made under the Black Money Act, the same additions cannot be made under the Income Tax Act on the same set of facts.The bench of C.N. The Delhi Bench of the Income Tax Appellate Tribunal has held that once additions have been made under …
The Delhi High Court on Friday issued notice to the Central Government, Central Board of Direct Taxes and Tax Department authorities in Robert Vadra's Plea challenging the proceedings initiated by the Respondent Authorities under Black Money Act and also for quashing the notices issued to him under sec. A division bench comprising of Justice Rajiv Shakdher and Justice Talwant Singh …
