evidence: The Black Money (Undisclosed Foreign Income & Assets) & Imposition of Tax Act, 2015 ("BMA") is a strict taxation law that seeks to heavily tax and criminally punish taxpayers... [...] Income & Assets) & Imposition of Tax Act, 2015 ("BMA") is a strict taxation law that seeks to heavily tax and criminally punish taxpayers having undisclosed foreign incomes and assets located outside India. This article seeks to examine an illustrative case scenario of investigation/inquiry under the BMA and its interplay with the income tax law. [...] on undisclosed foreign income and asset at the rate of 30%. The Act provides a complete procedure for levy of this black money tax through assessment. Section 41 provides for levy of penalty equivalent to 3 times of the black money tax. Thus, in case a certain amount is found to be hit by this act, a total of 120% of such amount would become payable (in the form of 30% tax plus penalty equivalent to 3 times of the tax). However, the penalty will not be imposable in cases where the undisclosed foreign assets are bank accounts having an aggregate balance of less than Rs.