Delhi HC Allows Revenue to Approach Court on Failure of Proceedings Under Black Money Act - 2024-01-17

What happened

Black Money Act

Subject : Tax Law - Taxation

Delhi HC Allows Revenue to Approach Court on Failure of Proceedings Under Black Money Act

BY Supreme Today News Desk,

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The Delhi High Court has allowed the revenue to approach the court in cases where proceedings under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 fail. The decision came in response to a challenge by the appellant/revenue against an order passed by the Income Tax Appellate Tribunal (ITAT). The Commissioner of Income Tax (Appeals) (CIT(A)) had deleted the penalty imposed on the assessee under Section 50 of the Black Money Act.

Black Money Act - Revenue Approach Court - Taxation - ITAT - CIT(A) - Penalty - Undisclosed Foreign Income - Imposition of Tax - Delhi High Court Order - Tax Evasion

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