https://www.taxtmi.com/caselaws?id=385834 The Tribunal held that the penalty order under section 271(1)(b) of the Income Tax Act was without jurisdiction and not legally sustainable. The assessee's compliance with the notice under section 142(1) was deemed satisfactory, and her refusal to sign the consent form for an alleged foreign bank account was considered reasonable. Since no concrete evidence of the account was found and no additions were made in the assessment order, the penalty was deemed unjustified. The appeals were allowed for statistical purposes, with directions for further verification by the Assessing Officer. en-us Tue, 26 Mar 2019 00:00:00 +0530 Sat, 14 Sep 2019 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385834 The Tribunal held that the penalty order under section 271(1)(b) of the Income Tax Act was without jurisdiction and not legally sustainable. The assessee's compliance with the notice under section 142(1) was deemed satisfactory, and her refusal to sign the consent form for an alleged foreign bank account was considered reasonable. Since no concrete evidence of the account was found and no additions were made in the assessment order, the penalty was deemed unjustified. The appeals were allowed for statistical purposes, with directions for further verification by the Assessing Officer. Case-Laws Income Tax Tue, 26 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385834