Undisclosed foreign income and assets: includes undisclosed foreign-source income and foreign-located assets; assessment variations excluded. Defines the total undisclosed foreign income and asset as: (a) income from a source outside India not disclosed in the return filed within the specified time or relevant subsections of section 139; (b) income from a foreign source requiring a return under section 139 where no return was furnished within the specified time or relevant subsections; and (c) the value of an undisclosed asset located outside India; excludes assessment or reassessment variations in foreign-source income and states such included income shall not form part of total income under the Income-tax Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Undisclosed foreign income and assets: includes undisclosed foreign-source income and foreign-located assets; assessment variations excluded.
Defines the total undisclosed foreign income and asset as: (a) income from a source outside India not disclosed in the return filed within the specified time or relevant subsections of section 139; (b) income from a foreign source requiring a return under section 139 where no return was furnished within the specified time or relevant subsections; and (c) the value of an undisclosed asset located outside India; excludes assessment or reassessment variations in foreign-source income and states such included income shall not form part of total income under the Income-tax Act.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
