Definition of assessee expanded to include residents and certain non-residents for undisclosed foreign income and assets. The amendment revises the statutory definition of 'assessee' to include a person who is a resident in India in the previous year, or a non-resident or not-ordinarily-resident who was resident in India either in the previous year to which the income relates or in the previous year in which the undisclosed asset located outside India was acquired; the previous year for acquisition shall be determined without giving effect to clause (c) of section 72.
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Provisions expressly mentioned in the judgment/order text.
Definition of assessee expanded to include residents and certain non-residents for undisclosed foreign income and assets.
The amendment revises the statutory definition of "assessee" to include a person who is a resident in India in the previous year, or a non-resident or not-ordinarily-resident who was resident in India either in the previous year to which the income relates or in the previous year in which the undisclosed asset located outside India was acquired; the previous year for acquisition shall be determined without giving effect to clause (c) of section 72.
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