Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 .

S. 2(11):Undisclosed asset located outside India – Assessment -Black Money — Income from undisclosed sources —Investments in UK-based trusts — Only source of information Department’s common reporting standard information showing account balances in trusts and recitals in trust deed — Investment in trust represented immovable property sourced through bank loan —Balance in other trust owned up and explained by assessee’s Non-resident son – Addition is deleted . [ 10(3), ITAct , S. 139, Explan 4, The Foreign Exchange Management Act, 1999 , S.16 ]

Direct Tax Vivad Se Vishwas Act, 2020

S. 3:Amount payable by declarant – Time and manner of payment – Determined tax payable within 15 days of receipt of Form -3 – Requirement of paying an additional amount was informed to assessee only by communication dated 1-4-2022, long after extended date of 31-10-2021- Assessee should not have been denied benefits under DTVSV Act. [ S. 5 , Form No1 , Form No 3, Form No 4, Art. 226 [

Direct Tax Vivad se Vishwas Act, 2020 .

S. 9 : Act not to apply in certain cases – Tax arrear-Prosecution has been instituted on or before the date of filing of declaration – Prosecution has to be in respect of tax arrear which is relatable to an assessment year – Directed the authorities to decide the declaration in conformity with the DTVSV Act- SLP of Revenue is dismissed . [S. 2(1)(o), 9(a) (ii), S. 276C(2), 278B, Art. 226]

Direct Tax Vivad se Vishwas Act, 2020 .

S.4:Filing of declaration and particulars to be furnished Rectification of order — Allegation of false declaration- Determination of tax attained finality- Once certificate is issued by Designated Authority — Rectification notice is barred by limitation .[ S. 3, 4(6), 5 , ITAct , 154 , Art. 226, Form No 5 ]

Prevention of Corruption Act, 1988.
S. 13: Criminal misconduct by a public servant-A Government Servant-Prevention of corruption-Criminal misconduct-Offences and prosecution-Discharge of accused-Special bearer bonds-Unexplained investments-Assets acquired in the name of son-Trust-Separate entity-Proceedings under Income Tax Act which were sought to be relied upon were related to assessment of income of assessee and not related to source of income and allegation of disproportionate assets under Prevention of Corruption Act, thus, said orders could not be basis to abort criminal proceeding-Trial court is directed to complete the trial expeditiously. The Court is only required to consider judicially whether the material warrants the framing of charge without blindly accepting the decision of the prosecution. Appeal is dismissed. The Trial court is directed to complete the trial expeditiously [S. 13(1)(c), 13(2) IT Act, 1961,S 69, 254(1) Art. 136]

S. 4 : Scope of total undisclosed foreign income and assets-Notice-Sought 45 days to provide bank statements from a closed DBS Bank account-Request is held to be reasonable-High Court directed the CIT(A) to consider request of assessee. [S. 250, Art. 226]

Wealth -tax Act , 1957

S.35B: Failure to furnish returns of net wealth-Mechanical approval – High Court quashed the proceedings – Death of assessee – Criminal appeal abated Non-filing of return is not a continuing offence – Court held that since sole assessee had died and she had been discharged, criminal appeal stood abated and disposed of . [ Art. 136 ]