Hon’ble Karnataka High Court, in the case of Smt. Dhanashree Ravindra Pandit & Others vs DDIT (Inv.), has quashed the criminal proceedings initiated by the income-tax department against petitioners connected to disclosure of overseas bank accounts and companies that were closed well before the Black Money Act came into force. The court ruled that the prosecution initiated against the petitioner did not and cannot pass constitutional muster under Article 20 of the Constitution of India.

For detail, please refer Karnataka High Court ruling in case of Smt. Dhanashree Ravindra Pandit & Others vs DDIT (Inv.) [Criminal Petition No. 101368 of 2019]

DISCLAIMER: – The summary information herein is based on Karnataka High Court ruling in case of Smt. Dhanashree Ravindra Pandit & Others vs DDIT (Inv.) [Criminal Petition No. 101368 of 2019]. While the information is believed to be accurate, we make no representations or warranties, express or implied, as to the accuracy or completeness of it. Readers should conduct and rely upon their own examination and analysis and are advised to seek their own professional advice. This note is not an offer, advice or solicitation. We accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies upon it.

PDF version is attached:  Karataka HC-Retrospective application of Black Money Law