Black Money Act Triggers When AO Notices the Transaction — Not When Undertaken: ITAT Deletes Foreign Asset Addition

HomeDirect TaxBlack Money Act Triggers When AO Notices the Transaction — Not When...

Black Money Act Triggers When AO Notices the Transaction — Not When Undertaken: ITAT Deletes Foreign Asset Addition

Direct Tax Top Stories

Published on

08/12/2025

By Mariya Paliwala

Black Money Act Triggers When AO Notices the Transaction — Not When Undertaken: ITAT Deletes Foreign Asset Addition

🚀 Stay Connected With JurisHour

WhatsApp X Telegram

In a landmark interpretation of the Black Money (Undisclosed Foreign Income and Assets) Act, 2015, the Income Tax Appellate Tribunal (ITAT) Pune Bench has ruled that the Black Money Act is triggered only in the year in which the Assessing Officer (AO) first notices the foreign asset, and not in the year when the transaction…

Membership Required

You must be a member to access this content.

View Membership Levels

Already a member? Log in here

Mariya Paliwala https://www.jurishour.in/

Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

Tags
Black Money Act

Black Money Act Triggers When AO Notices the Transaction — Not When Undertaken: ITAT Deletes Foreign Asset Addition

Membership Required

Latest articles

SGST Officers Can’t Detain Inter-State Goods Without Jurisdiction Under IGST: AP High Court

CBIC Assigns Additional Charge of Lucknow GST Zone to Chief Commissioner Manas Ranjan Mohanty

GST Collections Cross Rs. 2 Lakh Crore in March 2026

Lack of Reasoned Order by ICAI Board: Delhi HC Quashes Closure of Professional Misconduct Complaint

More like this

SGST Officers Can’t Detain Inter-State Goods Without Jurisdiction Under IGST: AP High Court

CBIC Assigns Additional Charge of Lucknow GST Zone to Chief Commissioner Manas Ranjan Mohanty

GST Collections Cross Rs. 2 Lakh Crore in March 2026

About us

Company

Categories