https://www.taxtmi.com/caselaws?id=349474 The Tribunal upheld penalties imposed under Section 271(1)(b) of the Income Tax Act for non-compliance with notices issued under Section 142(1). The penalties were confirmed due to the assessee's failure to provide a consent form regarding an alleged undisclosed overseas bank account, despite information received under the Double Taxation Avoidance Agreement linking the assessee to the account. The Tribunal deemed the refusal to sign the consent form as obstructing the investigation, emphasizing the necessity of cooperation in tax inquiries. The appeals by the assessee were dismissed, affirming the penalties. en-us Thu, 05 Oct 2017 00:00:00 +0530 Sat, 14 Oct 2017 07:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349474 The Tribunal upheld penalties imposed under Section 271(1)(b) of the Income Tax Act for non-compliance with notices issued under Section 142(1). The penalties were confirmed due to the assessee's failure to provide a consent form regarding an alleged undisclosed overseas bank account, despite information received under the Double Taxation Avoidance Agreement linking the assessee to the account. The Tribunal deemed the refusal to sign the consent form as obstructing the investigation, emphasizing the necessity of cooperation in tax inquiries. The appeals by the assessee were dismissed, affirming the penalties. Case-Laws Income Tax Thu, 05 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349474