https://www.taxtmi.com/caselaws?id=372365 The tribunal upheld penalties imposed under Section 271(1)(b) for non-compliance with a notice under Section 142(1) of the Income Tax Act. The assessee's refusal to sign a consent letter to verify undisclosed foreign bank accounts was deemed non-compliance without reasonable cause. Procedural objections raised were dismissed, and the penalty order was considered timely. Relying on precedents, the tribunal concluded in line with higher judicial authorities, leading to the dismissal of all seven appeals filed by the assessee. en-us Wed, 31 Oct 2018 00:00:00 +0530 Fri, 21 Dec 2018 07:08:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372365 The tribunal upheld penalties imposed under Section 271(1)(b) for non-compliance with a notice under Section 142(1) of the Income Tax Act. The assessee's refusal to sign a consent letter to verify undisclosed foreign bank accounts was deemed non-compliance without reasonable cause. Procedural objections raised were dismissed, and the penalty order was considered timely. Relying on precedents, the tribunal concluded in line with higher judicial authorities, leading to the dismissal of all seven appeals filed by the assessee. Case-Laws Income Tax Wed, 31 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372365