Section 24 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
- (1)The Principal Commissioner or the Commissioner may, either suo-motu or on an application made by the assessee, for the purposes of revising any order passed by an authority subordinate to him, other than an order to which section 23 applies, call for and examine all available records relating thereto.
- (2)The Principal Commissioner or the Commissioner may pass an order, as he considers necessary, which is not prejudicial to the assessee.
- (3)The power of the Principal Commissioner or the Commissioner under sub-section (2) to revise an order shall not extend to such order—
- (a)against which an appeal has not been filed but the time for filing an appeal before the Commissioner (Appeals) has not expired;
- (b)against which an appeal is pending before the Commissioner (Appeals); or
- (c)which has been considered and decided in any appeal.
- (4)The assessee shall make the application for revision of any order referred to in sub-section (1), within a period of one year from the date on which the order sought to be revised was communicated to him, or the date on which he otherwise came to know of it, whichever is earlier.
- (5)The Principal Commissioner or the Commissioner may, if he is satisfied that the assessee was prevented by sufficient cause from making the application within the period of one year, admit an application made after the expiry of one year but before expiry of two years from the date referred to in sub-section (4).
- (6)Every application by an assessee for revision under this section shall be accompanied by such fees as may be prescribed.
- (7)No order under sub-section (2) shall be made after the expiry of—
- (a)a period of one year from the end of the financial year in which an application is made by the assessee under sub-section (4); or
- (b)a period of one year from the date of the order sought to be revised, if the order is revised suo-motu by the Commissioner.
- (8)In computing the period of limitation under sub-section (7), the following shall not be included, namely:—
- (a)the time taken in giving an opportunity to the assessee to be reheard under section 7; or
- (b)any period during which any proceeding under this section is stayed by an order or injunction of any court.
- (9)An order by the Principal Commissioner or the Commissioner declining to interfere shall, for the purposes of this section, be deemed not to be an order prejudicial to the assessee.
Summary
- This provision covers revisions that are not harmful to the taxpayer.
- A Commissioner can start this review on their own initiative or because the taxpayer asked for it.
- Taxpayers must apply for this within one year of receiving the order they want to change.
- The Commissioner cannot revise an order if the time to file an appeal hasn't run out yet or if an appeal is already pending.
- If the official decides not to change anything, that decision is not considered harmful to the taxpayer.
Practical examples
FAQ
1. Can a taxpayer apply for a revision under Section 24 of the Black Money Act?
Yes, an assessee can make an application to the Principal Commissioner or Commissioner for revision under Section 24 of the Act.
2. What is the deadline for an assessee to apply for revision under Section 24 of the Black Money Act?
The application must be made within one year from the date the order was communicated to the assessee or from when they first knew of it.
3. Can Section 24 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 be used to increase a taxpayer's liability?
No, an order passed under Section 24 of the Act must not be prejudicial, or harmful, to the assessee.
4. Can I apply for revision under Section 24 of the Black Money Act if my appeal is still pending?
No, Section 24 of the Act states that the power to revise does not extend to orders where an appeal is pending before the Commissioner (Appeals).
Test yourself
Q1.Under Section 24 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, a revision order must NOT be what?
Q2.What is the typical time limit for a taxpayer to apply for revision under Section 24 of the Black Money Act?
Q3.Under Section 24 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, can the Commissioner revise an order while an appeal is still possible?
Q4.If a Commissioner refuses to interfere with an order under Section 24 of the Black Money Act, how is that refusal categorized?