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

S. 51:Pushishment for wilful attempt to evade tax-Return of income-Prosecution under section 51 cannot be dependent on completion of assessment, as offence, if proved, stands completed as soon as conditions as required under section 51(3) are fulfilled, irrespective of return of income-Writ petition to quash the proceeding is dismissed. On SLP the Court held that the assessee was to be permitted to raise all contentions legal as well as factual available to him before concerned authority under provisions of Black Money Act, 2015 and relevant contentions were to be considered on their own merits without being influenced by impugned order. SLP filed against order of High Court was to be disposed of SLP [S.2(12), 10(1), 48, 51(3), ITACT, 1961, S. 6(6), 131(IA),132, Art. 136,]

S. 281B : Provisional attachment-Seizure of cash from a car-Reassessment proceedings-Attachment of bank account-Money in a bank is a property liable for provisional attachment-Single judge held that bank account was not a property hence canot be subjected to provisional attachment-On appeal division Bench up held that provisional attachment-Order of single judge was set aside. [S. 132B, 226(4), Bharathiya Nagarik Suraksha Samhitha, 2023, S. 497, Code of Civil Procedure, 1908 (CPC) S 60(1), GST Act, 2017, Code of Criminal Procedure, 1973, S.451, Art. 226]

S. 276C : Offences and prosecutions-Willful attempt to evade tax-Long term capital gains-Search-Long term capital gains-Revised return-Delayed payment of tax-Order of High Court quashing the prosecution proceedings were affirmed-SLP of revenue was dismissed. [S. 45, 132(4), 139, Code of Criminal Procedure, 1973, 482, Art. 136]

S. 276B : Offences and prosecutions-Failure to pay to the credit tax deducted at source-Salary-Compounding application-If application is moved before the Court below, the same shall be considered on its merit without being influenced by the observation of this Court in the present order-Circular F. No. 285/08/2014-IT(INV. V)/163, dated 17-10-2024-[S. 192, 278AA, Code of Criminal Procedure, 1973, S. 320]

S. 275 : Penalty-Bar of limitation-Reference made by Assessing Officer to Additional Commissioner was to be treated as triggering point for initiation of penalty proceedings-Show cause notice was issued only on 10-11-2017 proposing levy of penalty and penalty order was made on 22-2-2018-Proceedings were beyond period of limitation-Order of Tribunal is affirmed. [S. 143(3), 260A, 269SS, 271D, 275(1)(c)]

S. 271(1)(c) : Penalty-Concealment-Natural justice-Due process-Opportunity of hearing-Less than 24 hours was granted to produce document-Penalty order is quashed and set aside-Matter is remanded to the Assessing Officer. [Art. 226]

S. 271(1)(c) : Penalty-Concealment-Failure to specify the charge-Order of Tribunal quashing the penalty is affirmed. [S. 260A, 274(1)]

S. 264 : Commissioner-Revision of other orders-Ex parte order-Mistake of chartered Accountant-Order of commissioner rejecting the application is quashed and set aside and remanded to Commissioner to be decided in accordance with law. [S. 54F, 142(1), Art. 226]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Bad debt-Provision for doubtful debts-Book profit-Assessing Officer did not show any application of mind and mechanically accepted statement of assessee-Principal Commissioner was justified in exercising his jurisdiction under section 263 of the Act. [S. 36(1)(vii), 115JB]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Assessment order was passed without making enquiry-In terms of clause (a) of Explanation 2 to section 263, assessment order was deemed to be erroneous in so far as it was prejudicial to interests of revenue-SLP filed by assessee against order of High Court was dismissed.[S. 45,263, Explanation 2, Art. 136]