https://www.taxtmi.com/caselaws?id=795594 Interest under the Black Money Act's incorporated fiscal mechanism was not leviable where foreign bank accounts and assets were disclosed, the return was filed within the prescribed due date, and estimated interest arose from the disclosed source. The advance-tax provisions imported conditions and exclusions under the Income-tax Act, including the exemption for a resident senior citizen without business income; therefore, no liability arose. A rectification order imposing interest and directly linked to the determination of undisclosed foreign income formed a composite operative order with the assessment. The underlying quantum addition was consequently challengeable to that connected extent and was restored for fresh merits adjudication after hearing. en-us Fri, 12 Jun 2026 00:00:00 +0530 Fri, 24 Jul 2026 08:36:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795594 Interest under the Black Money Act's incorporated fiscal mechanism was not leviable where foreign bank accounts and assets were disclosed, the return was filed within the prescribed due date, and estimated interest arose from the disclosed source. The advance-tax provisions imported conditions and exclusions under the Income-tax Act, including the exemption for a resident senior citizen without business income; therefore, no liability arose. A rectification order imposing interest and directly linked to the determination of undisclosed foreign income formed a composite operative order with the assessment. The underlying quantum addition was consequently challengeable to that connected extent and was restored for fresh merits adjudication after hearing. Case-Laws Income Tax Fri, 12 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795594