Black Money Act Penalty Discretionary, Not Mandatory: ITAT Mumbai 

Vinil Venugopal Vs DDIT (Inv) (ITAT Mumbai)

The Special Bench of the Income Tax Appellate Tribunal (ITAT), Mumbai, was constituted to resolve a conflict in co-ordinate bench decisions regarding the interpretation of Section 43 of the Black Money (Undisclosed Foreign Income and Assets) And Imposition of Tax Act, 2015 (BM Act). The core issue was

Please become a Premium member. If you are already a Premium member, login here to access the full content.