BMA s.52 — the law in short
What the courts have decided on section BMA s.52, in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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Arvind Balkrishna Gogte v Income Tax Department
High CourtHelps taxpayerNo later treatment found
My foreign company was struck off and the bank account closed years before the Black Money Act commenced. Can they still prosecute me for it?
Not on this authority. The Karnataka High Court quashed eight complaints under ss.50 and 52 of the Black Money Act where the foreign company had been struck off and the Singapore account closed in 2010, holding that the deeming fiction in s.72(c) cannot be stretched to found criminal liability for conduct that preceded the Act. Article 20(1) bars conviction under a law not actually in force when the act was done, and a statutory deeming that the asset was acquired in the year of the s.10 notice does not supply that.
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.
