ASHOK MITTAL Vs. UNION OF INDIA

JUDGEMENT

(1.) The present application has been filed by the petitioner/applicant inter-alia seeking permission to travel to abroad; it is submitted that the petitioner seeks to travel to Dubai, UAE for a month, for business and personal purposes.

(2.) During the course of proceedings, learned senior counsel on behalf of the petitioner, on instructions, submits that the petitioner undertakes to return back to India on or before 10/7/2025.

(3.) The present petition has arisen in the backdrop of a search and seizure conducted on 7/7/2022, under Sec. 132 of the Income Tax Act, 1961 by the officials of the respondent/Income Tax Department, at various ventures/properties owned by the petitioner and his family. During the course of search, allegedly high value cash transactions and undisclosed foreign assets of the petitioner were discovered. It is stated that neither of the aforesaid recoveries were disclosed by the petitioner in his income tax return as required under Sec. 50 and 51 (1) of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.