Black Money
Delhi couple gets relief in ₹2.25 crore Black Money Act case after ITAT examines Singapore, BVI bank credits
The ITAT Delhi has deleted ₹2.25 crore in Black Money Act additions against a Delhi couple over foreign company and bank account transactions in Singapore and the British Virgin Islands. The tribunal found that the major credits were backed by loans and deleted the remaining commission addition.
3 min read26 Aug 2026Missed declaring foreign assets? Here’s your relief window—with a catch.
The CBDT is giving small taxpayers, NRIs and employee stock option holders until 31 December to avoid severe Black Money Act penalties, but this immunity comes at a steep cost.
7 min read18 Aug 2026Taxpayer failed to disclose UAE bank account and foreign shares in ITR: ITAT Delhi upholds ₹1.86 lakh penalty
An ITAT Delhi ruling has upheld a ₹1.86 lakh penalty against a taxpayer for failing to disclose his UAE bank account and foreign shareholding in his ITR. The tribunal rejected his explanations and held that the undisclosed foreign assets could be assessed under the Black Money Act for AY 2020-21.
2 min read13 Aug 2026Which individuals require a tax clearance certificate before leaving India?
Starting October, new regulations will require high-risk individuals to secure a tax clearance certificate before leaving India. How does this might impact travellers, and what is the process involved?
2 min read6 Aug 2024Wait for it…
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