https://www.taxtmi.com/caselaws?id=370612 The court quashed the sanction orders and prosecution complaints filed against the petitioners under Section 50 of the Black Money Act. It held that the Principal Director of Income Tax is competent to sanction prosecution, but emphasized that prosecution can only be sanctioned if the Assessing Officer has passed an order under Section 10(3) of the Act. Additionally, the court concluded that the Chief Metropolitan Magistrate, Egmore, Chennai, is not the designated Special Court for the purposes of the Black Money Act, thereby dismissing the prosecution complaints against the petitioners. en-us Fri, 02 Nov 2018 00:00:00 +0530 Fri, 22 Feb 2019 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370612 The court quashed the sanction orders and prosecution complaints filed against the petitioners under Section 50 of the Black Money Act. It held that the Principal Director of Income Tax is competent to sanction prosecution, but emphasized that prosecution can only be sanctioned if the Assessing Officer has passed an order under Section 10(3) of the Act. Additionally, the court concluded that the Chief Metropolitan Magistrate, Egmore, Chennai, is not the designated Special Court for the purposes of the Black Money Act, thereby dismissing the prosecution complaints against the petitioners. Case-Laws Income Tax Fri, 02 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370612