Penal provisions of sections 50 and 51, whether applicable retrospectively… [Union of India and Ors. V. Gautam Khaitan]

Section 1, read with sections 50 and 51 of the Black money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015-High court took a view that while exercise of powers under section 85 and 86, Central Government has made penal provision of section 50 and 51 retrospectively applicable from 1-7-2015..