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

S. 50 : Penalty-Undisclosed Foreign income and assets-Offences and prosecution-Failure to furnish information relating to foreign income or assets in income-tax return-Time limit-Law applicable-Amendment of Section 139(5) with effect from 14-5-2016-Revised return can be furnished within one year of relevant assessment year or before completion of assessment-Revised return filed before expiry of limitation-Prosecution not valid. [S. 4, IT Act, 6, 132, 139(5) Code of Criminal Procedure, S. 200]

S. 276CC : Offences and prosecutions-Failure to furnish return of income-Compounding of offence not an absolute right but to be allowed based on facts and circumstances-Absence of assessee in India or communication gap between assessee and her representative not ground to quash prosecution. [S. 131(IA), 139(1), 276C(1), 278E, Code of Criminal Procedure, 1973, 200, 482]

S. 276C : Offences and prosecutions-Wilful attempt to evade tax-Search and seizure-Penalty affirmed by Tribunal-Order of Tribunal set aside by Court-Criminal prosecution quashed [S. 132, 271(1)(c), 276C(1), 276C(2), 276CC]

S. 275B : Offences and prosecutions-Search and seizure-Facility to inspect books of account-Documents-Wilful attempt to evade tax-Denial of adequate facility to the authorised officers empowered under section 132 of the Act were non-cognizable and bailable-Chief executive of the company a Chinees national with jo assets or family in India-Look-Out Circular-No extradition treaty with China-Individual being flight risk-Additional directions issued to deposit Rs 5 crores. [S. 132, 123(9B), 276C, 278B]

S. 275A : Offences and prosecutions-Prohibitory order-Contravention-Power to quash first information report-First information report could not be quashed. [S. 132(3), Code Of Criminal Procedure, 1973, S. 155(2)]

S. 260A : Appeal-High Court-Limitation-Delay of 86 days-Delay was condoned-High Court directed to dispose of appeals on merits.

S. 245D : Settlement Commission-Settlement of cases-Procedure-Procedure laid down must be followed-Order not following procedure-Not valid-Writ petition pending when Settlement Commission was abolished-Petition to be considered by Interim Board. Principles of natural justice-legal maxim “nemo judex in sua causa debet esse”, No one can be a judge in his own case. [S. 245D(5), 245A, 245B, Art. 226]

S. 245 : Refunds-Set off of refunds against tax remaining payable-Appeal pending-Entitled to refund of amount adjusted in excess of 20 Per Cent-No order passed either accepting or rejecting–Entitled to refund of amount adjusted in excess of 20 Per Cent. [S. 156, 220(6), 227, Art. 226]

S. 220 : Collection and recovery-Assessee deemed in default-Certificate to Tax Recovery Officer-Attachment and sale of immovable property-Time limit-Order of attachment twenty five years after assessment years-Barred by limitation-Notice of attachment was quashed. [S. 2(25), 2(44), 117, 222, 281B, Schedule II, R, 2, 4, 16, 68B, Art. 226]