BMA 2015 s.84 — the law in short
What the courts have decided on section BMA 2015 s.84, in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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CBDT instruction of 18 August 2025 on Black Money Act prosecutions
CBDT Circulars & InstructionsHelps taxpayer
The foreign asset is small and no penalty is proposed. Can they still prosecute me for leaving it out of Schedule FA?
Not on the Board's own instruction. It directs that prosecution under s.49 or s.50 of the Black Money Act is not to be initiated in cases where penalty under s.42 or s.43 is not imposed or not imposable because the asset falls within the proviso to those sections - assets other than immovable property whose aggregate value does not exceed Rs 20 lakh. It amends an earlier instruction of 15 March 2022.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.