https://www.taxtmi.com/caselaws?id=795825 Foreign exhibition-sale proceeds already assessed as business income in final settlement proceedings under the Income-tax Act cannot be reassessed as undisclosed foreign income under the Black Money Act, 2015. Income-tax Act assessments computed under the business-income provisions fall within the exclusion in section 4(2) of the 2015 Act, while section 4(3) prevents income included under that Act from also forming part of total income under the Income-tax Act. As the settlement order remained conclusive and unmodified, reassessment of the same foreign-sale income would constitute impermissible double taxation. Additions under the Black Money Act were therefore unsustainable, and deletions for the relevant assessment years were upheld. en-us Fri, 24 Jul 2026 00:00:00 +0530 Tue, 28 Jul 2026 08:30:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795825 Foreign exhibition-sale proceeds already assessed as business income in final settlement proceedings under the Income-tax Act cannot be reassessed as undisclosed foreign income under the Black Money Act, 2015. Income-tax Act assessments computed under the business-income provisions fall within the exclusion in section 4(2) of the 2015 Act, while section 4(3) prevents income included under that Act from also forming part of total income under the Income-tax Act. As the settlement order remained conclusive and unmodified, reassessment of the same foreign-sale income would constitute impermissible double taxation. Additions under the Black Money Act were therefore unsustainable, and deletions for the relevant assessment years were upheld. Case-Laws Income Tax Fri, 24 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795825