“It was unconstitutional to fasten criminal liability for non-disclosure of tax return assessment for 2007-08 or 2009-10 under Black Money Act, 2015”: Karnataka HC
In a retrospective application of Sections 50 and 52 of Black Money (Undisclosed Foreign Income and Assets) Imposition of Tax Act, 2015, the Income Tax Dept. had fastened criminal liability on the petitioners for non-disclosure of tax return assessment for 2007-08 and 2009-10.
