Search
No Assessment Without Proper Notice: ITAT Clarifies the Procedural Backbone of Assessments under the Black Money Act
In a decisive ruling, the ITAT Mumbai held that a BMA assessment cannot be sustained without a valid notice under section 10(1), reinforcing that procedural compliance is not a mere formality but a jurisdictional precondition. The case underscores the interplay between notice issuance, deemed acquisition under section 72(c), and the consequences of retrospective taxation under the Black Money regime.
Mar 37 min read
Delhi High Court: Prosecution under the Black Money Act Not Contingent on Completion of Assessment
Delhi HC affirms that prosecution under the Black Money Act can proceed independently of tax assessment proceedings under s. 10.
Nov 23, 20244 min read
Anticipatory Bail Granted: Madhya Pradesh High Court Clarifies Application of Black Money Act
The Madhya Pradesh High Court granted anticipatory bail and ruled on the retrospective application of the Black Money Act in a key case.
Jul 8, 20243 min read
An illustrative inquiry under the Black Money Act
The Black Money Act is a draconian law, being a hybrid of high rate of taxation and criminal liabilities - an illustration examines this.
Oct 17, 202210 min read