https://www.taxtmi.com/caselaws?id=754336 Karnataka HC quashed prosecution under Black Money Act sections 50 and 52 against petitioners who were office bearers of British companies. The court held that prosecuting petitioners for non-disclosure of foreign assets in 2007-08 and 2009-10 tax returns under an Act that came into force in 2015 violated Article 20 of the Constitution. The prosecution failed constitutional scrutiny as criminal law cannot be applied retrospectively for acts committed before the law's existence, rendering the charges invalid. en-us Fri, 07 Jun 2024 00:00:00 +0530 Thu, 29 Aug 2024 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754336 Karnataka HC quashed prosecution under Black Money Act sections 50 and 52 against petitioners who were office bearers of British companies. The court held that prosecuting petitioners for non-disclosure of foreign assets in 2007-08 and 2009-10 tax returns under an Act that came into force in 2015 violated Article 20 of the Constitution. The prosecution failed constitutional scrutiny as criminal law cannot be applied retrospectively for acts committed before the law's existence, rendering the charges invalid. Case-Laws Income Tax Fri, 07 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754336