https://www.taxtmi.com/highlights?id=78707 HC considered a case u/s 50 of Black Money Act for non-disclosure of foreign assets and false statements by petitioners, office bearers of British Companies. Act enforced in 2015, but petitioners assessed in 2018. Prosecution u/s 50 & 52 initiated. Petitioners argued Companies closed pre-Act, so prosecution invalid. HC held prosecution unconstitutional u/s Article 20 as Act retroactively applied to pre-Act conduct. Special Act must comply with Article 20, fundamental right, and failed here, leading to dismissal of charges. en-us Fri, 21 Jun 2024 18:51:32 +0530 Fri, 21 Jun 2024 18:51:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=78707 HC considered a case u/s 50 of Black Money Act for non-disclosure of foreign assets and false statements by petitioners, office bearers of British Companies. Act enforced in 2015, but petitioners assessed in 2018. Prosecution u/s 50 & 52 initiated. Petitioners argued Companies closed pre-Act, so prosecution invalid. HC held prosecution unconstitutional u/s Article 20 as Act retroactively applied to pre-Act conduct. Special Act must comply with Article 20, fundamental right, and failed here, leading to dismissal of charges. Highlights Income Tax Fri, 21 Jun 2024 18:51:32 +0530 https://www.taxtmi.com/highlights?id=78707