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of <h1>Petitioner granted affidavit exemption, must file within 3 days. Court debates Black Money Act trigger point.</h1> <h3>Deepak Talwar Versus Union Of India & Ors.</h3> The petitioner was granted exemption from filing notarized affidavits with the writ petition, with a condition to submit them within three days of the ... Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax - application is to grant exemption from filing court-fee and welfare stamp - beneficial interest in the shares - foreign asset - HELD THAT:- Insofar as the knowledge of the AO is concerned, it is the case of the revenue that it became aware of the foreign asset, said to have been held by the petitioner, via the Foreign Tax and Tax Research (in short “FT and TR”), division of the CBDT. Thus, we would like to have on record, the documents and the information, that FT and TR had in its possession, to enable us to fix a date of knowledge and, if at all, the provisions of the Act would apply in this case. We are of the view, to get to this point, the date of knowledge of FT and TR would be relevant. These aspects can only be examined once a counter-affidavit is filed on behalf of the revenue. We may also note that there are several other issues that have been raised, in the petition. Accordingly, issue notice. Issues:1. Exemption from filing notarized affidavits with the writ petition.2. Exemption from filing court-fee and welfare stamp.3. Interpretation of the triggering point of the Black Money Act.4. Date of knowledge of the Assessing Officer regarding foreign assets.5. Examination of documents possessed by FT and TR division of CBDT.6. Other issues raised in the petition.Exemption from Filing Notarized Affidavits:The petitioner sought exemption from filing notarized affidavits along with the writ petition, which was allowed subject to placing the notarized affidavits within three days of the court's normal work resumption.Exemption from Filing Court-Fee and Welfare Stamp:Another application requested exemption from filing court-fee and welfare stamp, which was disposed of with a direction to file the required fees within three days of the court's normal functioning resumption.Interpretation of Black Money Act Triggering Point:The petitioner claimed to have ceased holding the foreign asset before the Black Money Act came into force, citing beneficial interest in shares through various entities. The respondent argued that the Act triggers upon the Assessing Officer's notice of the foreign asset, referencing a Supreme Court judgment.Date of Knowledge of Assessing Officer:The court requested documents and information possessed by the FT and TR division of CBDT to determine the date of knowledge regarding the foreign asset held by the petitioner, crucial for applying the Act's provisions.Other Issues Raised in the Petition:Various other issues were raised in the petition, necessitating a comprehensive examination. The court issued notices to the respondents, directing the filing of counter-affidavits within six weeks and scheduling the next hearing for further proceedings on 07.09.2021, with a directive for the respondents not to take coercive measures against the petitioner in the interim.
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