https://www.taxtmi.com/highlights?id=102027 Interest on undisclosed foreign income under the Black Money Act requires non-disclosure of the foreign source in the return; estimation or variation of income from an already disclosed foreign account does not satisfy that condition. Timely filing also prevents interest under the incorporated late-filing computation provisions. Advance-tax interest cannot be imposed without clear statutory language establishing the liability and machinery, and incorporated advance-tax provisions include exemptions for resident senior citizens without business income. Where rectification adds interest linked to the underlying foreign-income addition, the original and rectified orders operate as a composite order, permitting a limited challenge to the connected quantum addition; that issue requires merits consideration. en-us Fri, 24 Jul 2026 08:36:14 +0530 Fri, 24 Jul 2026 08:36:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102027 Interest on undisclosed foreign income under the Black Money Act requires non-disclosure of the foreign source in the return; estimation or variation of income from an already disclosed foreign account does not satisfy that condition. Timely filing also prevents interest under the incorporated late-filing computation provisions. Advance-tax interest cannot be imposed without clear statutory language establishing the liability and machinery, and incorporated advance-tax provisions include exemptions for resident senior citizens without business income. Where rectification adds interest linked to the underlying foreign-income addition, the original and rectified orders operate as a composite order, permitting a limited challenge to the connected quantum addition; that issue requires merits consideration. Highlights Income Tax Fri, 24 Jul 2026 08:36:14 +0530 https://www.taxtmi.com/highlights?id=102027