Skip to content

CA Final · Direct Tax Laws & International Taxation · Provisions to Counteract Unethical Tax Practices

In proceedings relating to undisclosed foreign income and assets of Vikram Sethi, a deceased resident, the assessing officer wants to apply rules about liability of legal representatives. Under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, how do the Income-tax Act's provisions apply, as stated in the text provided?

Chapter XV of the Income-tax Act on liability in special cases and section 189 apply, so far as may be, to proceedings under the relevant Chapter of the Black Money Act, as they apply under the Income-tax Act. Section 70 of the Black Money Act provides this without separate notification.

  1. AChapter XV of the Income-tax Act on liability in special cases and section 189 apply so far as may be to proceedings under the relevant Chapter of the Black Money ActCorrect
  2. BThey do not apply, as the Black Money Act is a self-contained code
  3. COnly section 189 applies, and Chapter XV does not
  4. DThey apply only if the Central Government notifies each case separately

Explanation

Section 70 of the Black Money Act states that Chapter XV of the Income-tax Act relating to liability in special cases, and section 189 of that Act or Chapter V of the Wealth-tax Act, shall so far as may be apply to proceedings under the relevant Chapter as they apply to proceedings under the Income-tax Act or Wealth-tax Act. No notification is needed and both provisions are covered.

Did you get it right without looking?

One question tells you little. A timed set on Provisions to Counteract Unethical Tax Practices shows your real accuracy, how long you take and where you lose marks.

Practise Provisions to Counteract Unethical Tax PracticesFree diagnostic mock

More Provisions to Counteract Unethical Tax Practices questions