2019 (5) TMI 1508 - SC - Income Tax

Power of Central Government u/s 85 86 - Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 - to promulgate the impugned Notifications pursuant to which the subject proceedings have been initiated against the petitioner prior to the said Act itself coming into force and that the same are consequently without the sanction of law? - whether notifications issued making them effective prior to 01.04.2016 are ultravirus? - Grant of interim relief - Seeking stay of the operation - HELD THAT - Until further orders operation of the impugned order is stayed. The petitioners are free to prosecute respondent and proceed further in accordance with law subject to the final decision of this matter.

Summary

The Supreme Court of India issued an order staying the operation of the impugned order. The petitioners are allowed to prosecute the respondent in accordance with the law. A reply must be filed within six weeks.