https://www.taxtmi.com/caselaws?id=357708 The High Court upheld the penalty imposed on the appellant for non-compliance with the notice under Section 142(1) of the Income Tax Act, 1961, based on evidence indicating a connection with Swiss Bank accounts. The Court found the penalty justified, emphasizing the importance of cooperation in tax investigations and responding to notices and forms, even in the absence of prejudice to the appellant. The decision highlighted the significance of credible material compelling responses from taxpayers and upheld the lower authorities' findings regarding non-compliance and penalty imposition under Section 271(1)(b) of the Act. en-us Wed, 21 Mar 2018 00:00:00 +0530 Wed, 28 Mar 2018 07:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357708 The High Court upheld the penalty imposed on the appellant for non-compliance with the notice under Section 142(1) of the Income Tax Act, 1961, based on evidence indicating a connection with Swiss Bank accounts. The Court found the penalty justified, emphasizing the importance of cooperation in tax investigations and responding to notices and forms, even in the absence of prejudice to the appellant. The decision highlighted the significance of credible material compelling responses from taxpayers and upheld the lower authorities' findings regarding non-compliance and penalty imposition under Section 271(1)(b) of the Act. Case-Laws Income Tax Wed, 21 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357708