Income tax amendment: punishment for fraudulent concealment or transfer of property changed to simple imprisonment up to two years. Amendment substitutes simple imprisonment for the prior rigorous imprisonment wording for the offence of fraudulently removing, concealing, transferring or delivering property to prevent its being taken in execution under the Second Schedule, retains a fine, preserves a maximum two year term, and is made retrospective to 1 March 2026.
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Provisions expressly mentioned in the judgment/order text.
Income tax amendment: punishment for fraudulent concealment or transfer of property changed to simple imprisonment up to two years.
Amendment substitutes simple imprisonment for the prior rigorous imprisonment wording for the offence of fraudulently removing, concealing, transferring or delivering property to prevent its being taken in execution under the Second Schedule, retains a fine, preserves a maximum two year term, and is made retrospective to 1 March 2026.
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