Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Black money stashed abroad can threaten national security: HC
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Top Stories > Black money stashed abroad can threaten national security: HC
Top Stories

Black money stashed abroad can threaten national security: HC

Syed Rukaya
Last updated: September 17, 2022 12:39 am
Syed Rukaya
Published: September 17, 2022
Share
8 Min Read
SHARE

Srinagar, Sept 16: The High Court (HC) of Jammu & Kashmir and Ladakh Friday observed that money stashed abroad by evading tax could be used in ways which could threaten national security.
Dismissing a batch of petitions challenging orders and notices passed by the authorities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act (the Act of 2015), the court observed that evasion of tax robs the nation of critical resources necessary to undertake programs for social inclusion and economic development.
A division bench of Justices Ali Mohammad Magrey and M.A Chowdhary underscored that tax evasion puts a disproportionate burden on the honest taxpayers as they have to bear the brunt of higher taxes to make up for the revenue leakage caused by the evasion.
The court observed that stashing away of black money abroad by some people with the intent to evade taxes has been a matter of deep concern to the nation.
The court passed these observations in six petitions filed by Tabasum Mir, Amir Mir, and Abdul Rashid Mir and others, through senior Supreme Court counsel P Chidambaram challenging the validity of the notices dated July 6, 2018 issued by the respondents
(Union of India, Finance Department, Commissioner of Income Tax, New Delhi, and Deputy Director of Income Tax (Investigation) Investigation Wing) under Section 10 (1) of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 as also show cause notices dated March 18, 2021.
The petitioners have also challenged the penalty notices dated March 29, 2021, assessment orders dated March 31, 2021 and demand notices dated March 31, 2021.
As per the plea, the petitioners are the beneficiaries of Mondale Irrevocable Discretionary Trust which was created and established abroad in Bangkok, Thailand.
The petitioners brought money of their share in India upon permission granted by the Reserve Bank of India.
In the meantime, Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 was enforced with effect from 2015.
In view of the said Act, a notice under Section 10(1) and thereafter under Section 10(2) were issued requiring certain information from the petitioners.
The plea stated that the said notice was duly replied by the petitioners, but till date, no order of assessment as contemplated under Section 10 has been passed against the petitioners.
At the same time, it stated, a further show cause notice dated March 18, 2021 was issued requiring the petitioners to show cause why in respect of some of the assets, the petitioners should not be taxed under the Act and penalties and prosecution be launched against them.
It was averred that the aforesaid show cause notice is neither a notice issued under Section 10 nor a notice under any other provisions of the Act and, as such, is without jurisdiction.
“The petitioners cannot be prosecuted and saddled with penalties without there being the assessment order passed under Section 10,” it said.
Senior Supreme Court counsel P Chidambaram submitted that the action initiated by the ‘assessing authority’ was without jurisdiction as the provisions of the Act of 2015, under the shade and cover of which the entire action has been initiated, are not applicable to the asset subject matter of the case in hand, being created by Non-Resident Indians out of income generated abroad which was not chargeable to tax in India.
On the other hand, counsel representing the respondents had raised objections regarding the maintainability of the petitions.
While holding the petitions “not maintainable” as petitioners had not exhausted the remedy available in the legislation, the court granted liberty to the petitioners to challenge the same before the appellate authority.
“The bench noted that the Act of 2015 provides complete machinery for the person aggrieved of any action taken by the Assessing Officer and the said person could not be permitted to abandon that machinery and to invoke the jurisdiction of the High Court under Article 226 of the Constitution when he had the adequate remedy open to him by way of an appeal to the Commissioner of Appeals,” the court said.

“The remedy under the statute, however, must be effective and not a mere formality with no substantial relief,” the bench said.
In the present case, the court pointed out, neither have the petitioners described the available alternate remedy under the Act as ineffectual and non-efficacious while invoking the writ jurisdiction of the court nor have they ascribed cogent and satisfactory reasons before the Court so as to enable it to exercise jurisdiction under Article 226 of the Constitution in tune with the facts and circumstances of the case.
“All the contentions of the petitioners, as raised in these petitions, including the issue of jurisdiction, applicability or otherwise of the act, can very conveniently be dealt with by the appellate authority in tune with the mandate of Sections 15 and 17 of the Act of 2015,” the bench said.
However, keeping in view that the petitioners have been bonafidely pursuing their claim before it by filing these writ petitions at the relevant point of time and the decision in these petitions has consumed more than one year, the court granted liberty to the petitioners to avail the aforesaid statutory remedy of appeal against the proceedings initiated against them by the concerned authority including the show cause notices, assessment orders, penalty notices, demand notices, within one month from the date of announcement of this Judgment.
In the event any such appeal/s is/ are filed before the appellate authority within the stipulated time in accordance with the mandate of the Act of 2015, the court directed the Deputy Director of Income Tax (Investigation) Investigation Wing, to consider the same only on merits without making any reference to the period of limitation.
The bench asked the authorities not to take any punitive action against petitioners in case they file an appeal within one month.
The court also made it clear to the appellate authority not to get influenced by any observation made by the bench while deciding these writ petitions.

Electric bikes set to strike Srinagar roads
Cross-border marriages face uncertainty as tensions rise post-Pahalgam attack
IGP Kashmir reviews security preparedness in Anantnag
Foreign terrorism poses major challenge to security forces: DGP
HC thwarts eviction of former legislators from Govt accommodation

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article Ensure priority passage to fruit laden trucks: Govt officers
Next Article J&K Haj Committee to take up issues faced by J&K pilgrims with CGI Jeddah to avoid repetition next yr: Officials
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

Tourism comes to grind halt in Sonamarg after Pahalgam terror attack
Kashmir
May 29, 2025
SKUAST-K to establish advanced reproductive biotechnology centre to enhance animal breeding
Kashmir
May 29, 2025
DC calls for intensified action against drug abuse at NCORD review in Gbl
Kashmir
May 29, 2025
Shikara operators continue to ignore mandatory safety protocols
City
May 29, 2025

Recent Posts

  • Tourism comes to grind halt in Sonamarg after Pahalgam terror attack
  • SKUAST-K to establish advanced reproductive biotechnology centre to enhance animal breeding
  • DC calls for intensified action against drug abuse at NCORD review in Gbl
  • Shikara operators continue to ignore mandatory safety protocols
  • IUST partners with government for building safer J&K

Recent Comments

  1. BASHIR AHMAD BHAT on Poor hotel accommodation, lack of medical facilities irk Kashmiri pilgrims in Saudi Arabia, video goes viral
  2. sree vishnu movies on Pahalgam attack shatters Kashmir’s film tourism revival
  3. SavePlus on AI and Behavioural Analytics in Gaming: Making the World of Gaming Better
  4. Parul on Govt acknowledges faulty streetlights on Narbal-Tangmarg road
  5. dr gora on Women Veterinarians and the Goal of Viksit Bharat

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?