HC quashes Black Money prosecution against Srinidhi Karti Chidambaram

CA Suraj R. Agrawal Srinidhi Karti Chidambaram Vs. PCIT (Madras High Court) Madras High Court quashes prosecution proceedings initiated under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 for non-disclosure/incomplete disclosure of foreign assets in the Return of Income. Case Summary:- Facts of the case: The petitioners (NC, SC and KC) are family members against whom notices for assessment were issued under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) for assessing undisclosed foreign income and assets...