Supreme Court of India ka Decision on SFT & Undisclosed Income Cases – Detailed Explanation
Supreme Court of India ka Decision on SFT & Undisclosed Income Cases – Detailed Explanation
Background: SFT Kya Hai?
Statement of Financial Transactions (SFT) ek reporting system hai jisme banks, financial institutions, mutual fund companies, property registrars, etc. high-value transactions ki information Income Tax Department ko bhejte hain.
Iska purpose hai:
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High-value deposits track karna
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Property purchase/sale monitor karna
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Large credit card payments record karna
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Investments (FD, Mutual Funds, Shares) par nazar rakhna
Agar taxpayer apni ITR me in transactions ko disclose nahi karta, to department mismatch pakad leta hai.
Issue Before Supreme Court
Court ke saamne major questions yeh the:
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Kya sirf SFT/AIS data ke basis par reassessment (Section 147/148) kiya ja sakta hai?
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Kya high-value transaction automatically “undisclosed income” maana ja sakta hai?
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Burden of proof kiske upar hoga — taxpayer ya department?
Supreme Court Ka Stand (General Legal Principle)
Supreme Court ne clear kiya hai:
✔️ Sirf high-value transaction hona hi tax evasion ka proof nahi hai.
✔️ Department ko “reason to believe” establish karna zaroori hai.
✔️ Agar SFT data me mismatch hai, to taxpayer ko explanation ka mauka diya jana chahiye.
✔️ Natural justice ka principle follow hona chahiye (notice + hearing).
Court ne yeh bhi kaha:
Reassessment mechanical tareeke se nahi ho sakta. Proper inquiry aur application of mind zaroori hai.
Undisclosed Income Cases Me Important Observations
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Cash Deposit Cases
Agar taxpayer source explain kar deta hai (salary, savings, loan, business receipts), to department bina proof ke addition nahi kar sakta. -
Property Purchase Cases
Circle rate aur actual consideration me difference ho to proper investigation zaroori hai. -
AIS/SFT Mismatch
Agar data error hai ya duplicate reporting hai, to sirf mismatch par penalty justified nahi hai.
Practical Impact on Taxpayers
🔹 ITR file karte waqt AIS/SFT data check karna zaroori hai
🔹 High-value transactions ka proper documentation rakhen
🔹 Section 148 notice ko ignore na karein
🔹 Har transaction ka legal source maintain karein
Legal Sections Involved
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Section 147 – Income Escaping Assessment
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Section 148 – Notice for Reassessment
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Section 68 – Unexplained Cash Credit
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Section 69 – Unexplained Investments
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Section 271(1)(c) – Penalty for concealment
Conclusion (Simple Words Me)
Supreme Court ka clear message hai:
👉 Government ko SFT se data milta hai, lekin bina proper investigation ke kisi ko tax evader declare nahi kiya ja sakta.
👉 Taxpayer ko fair opportunity milni chahiye apna side explain karne ka.
👉 Transparency dono taraf se honi chahiye — department aur taxpayer.