Black money - Undisclosed Foreign Assets - Beneficial Owner of ...

Income Tax

August 18, 2022

Black money - Undisclosed Foreign Assets - Beneficial Owner of the specified Undisclosed Assets - The Impugned Notice is very detailed and there are multiple references to different transactions between and amongst M/s. RAL and other entities. The Impugned Notice also refers to certain Minutes of Meetings and instances of payments with necessary documents illustrated. The transactions are multi-fold and make a complex web, and this Court, when the petitioner is yet to file response and produce documents/accounts/evidence, and the Assessing Officer is yet to consider those materials, cannot opine that the Impugned Notice lacks in material details or has not considered material circumstances - HC

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Black money - Undisclosed Foreign Assets - Beneficial Owner of ...

Income Tax

August 18, 2022

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