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]

S. 195 : Deduction at source-Non-resident-Other sums-Double taxation avoidance-Reimbursement of employees of American company-Provisions of the Double Taxation Avoidance Agreement are more beneficial than the provisions of the Act, it is the Agreement that should be treated as the law that requires to be followed and applied-Certificate for deduction at lower rate or nil deduction-The application under section 195 is at the instance of the person making the payment, while the application under section 197 is at the instance of the recipient-DTAA-India-USA. [S. 40(a))(ia), 90(2), 195(2), 197, Art. 12]