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of <h1>Section 65: Disclosing Undisclosed Foreign Assets Bars Reopening Completed Tax Assessments or Claiming Relief in Appeals.</h1> Section 65 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, states that declaring an undisclosed foreign asset or paying tax on it does not allow the declarant to reopen any completed assessment or reassessment under the Income-tax Act or the Wealth-tax Act, 1957. Furthermore, the declarant cannot claim any set-off or relief in any appeal or proceeding related to such assessments or reassessments. This provision ensures the finality of completed tax assessments despite the disclosure of previously undisclosed foreign assets.
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