SC stays HC's order on applicability of black money law

On Tuesday, the top court suspended the operation of the high court's order and put the case for detailed hearing after six weeks.

The Supreme Court on Tuesday stayed a Delhi High Court's order that stated the Black Money law can't be applied prior to April 1, 2016, the date fixed by Parliament.

A bench of Justices Arun Mishra and M R Shah issued notice to advocate Gautam Khaitan on whose plea the high court had passed its interim order on May 16.

Solicitor General Tushar Mehta had on Monday sought urgent hearing in the matter, saying the order would have ramifications on several pending cases.

The top court had then allowed his plea for urgent hearing and listed the matter for consideration.

On Tuesday, the top court suspended the operation of the high court's order and put the case for detailed hearing after six weeks.

The high court had on May 16 passed its order restraining the government and the Income Tax department from taking further action against advocate Gautam Khaitan in Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. 

Khaitan had contended the Centre's notification stating the Act would come into force since July 1, 2015, instead of April 1, 2016, was ultra vire the Act.

It was alleged that Khaitan, an accused in the VVIP chopper deal scam, had deposited Rs 6,000 crore in offshore accounts. 

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