Variation of penalty orders now expressly permits increasing or decreasing penalties under the Black Money Act. The amendment substitutes wording in section 17(1)(b) of the Black Money Act to permit authorities to vary a penalty order either to enhance or reduce the ... Summary
Referred In :
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Variation of penalty orders now expressly permits increasing or decreasing penalties under the Black Money Act.
The amendment substitutes wording in section 17(1)(b) of the Black Money Act to permit authorities to vary a penalty order either to enhance or reduce the penalty, establishing an explicit statutory power to modify existing penalty orders in both directions.
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