Prosecution under Black Money Act was justified if assessee failed to disclose foreign bank accounts: HC

IT : Where sufficient opportunities were available to petitioner under Act of 1961 to make true and proper disclosure of foreign assets, however he failed to make true and full disclosure after search and seizure and also in Settlement proceedings he would be liable for violation of provisions of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

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