2016 (7) TMI 402

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....etitioners : Mr. V. T. Gopalan, Senior Counsel (In all WPs.) For Mr.Suhrith Parthasarathy For the Respondents : Mr. T. Promod Kumar Chopda ORDER Heard Mr.V.T.Gopalan, learned Senior Counsel assisted by Mr.Suhrith Parthasarathy, learned counsel for the petitioner and Mr.T.Promod Kumar Chopda, learned Standing Counsel appearing for the respondents. 2. In the light of the stand taken by t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....iled during the course of hearing, we are of the view that the Commission does not have jurisdiction to entertain these applications offering undisclosed foreign income and assets. Since the Commission does not have the jurisdiction, we have not gone into the further question as to whether the Applicants have fulfilled the conditions u/s.245C. The order was pronounced in the court on 30.06.2015. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... interfere in our earlier order dated 30.06.2015 in respect of the above two Applicants and we reiterate our findings given in the said order dated 30.06.2015 that since a resident's total undisclosed foreign income and asset will be dealt under the provisions of the New Act and not under the existing Income Tax Act (which will deal with disclosed foreign income of a resident which is part of ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....petitions, the respondents have taken the following stand: "The First Respondent by order dated 01.07.2015 followed by Explanatory notes dated 2.07.2015 issued in Circular No.12 of 2015 have clarified that the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 comes into effect from 1.07.2015. It is submitted that the Petitioner had filed Return of Income ....