On writ against the show cause notice the Court held that penalty proceedings under section 43 of Black Money and Imposition of Tax Act, 2015 were initiated against assessee for alleged failure to disclose foreign income/assets, since matter was at stage of show-cause, directed the statutory authority to adjudicate show cause notice having regard to response submitted by assessee . (AY. 2016 -17 )
Sundeep Kathuria v. Dy. DIT (2023) 333 CTR 202 / 148 taxmann.com 212 (Delhi)(HC)
Black Money (Undisclosed Foreign Income and Assets ) and Imposition of Tax Act, 2015
S. 43 : Penalty – Show cause notice – Since matter was at stage of show-cause notice, directed the statutory authority to adjudicate impugned show-cause notice having regard to response submitted by assessee and also specifically deal with issue relating to jurisdiction. [S. 131 (IA), Art . 226 ]