Assessee failed to comply with S. 142(1) Notice & Consent Form for alleged holding of Swiss Bank Account: Delhi HC upholds Income Tax Penalty [Read Order]

By Taxscan Team - On March 15, 2022 1:26 pm - 2 mins read
Assessee - S. 142(1) Notice - Consent Form - alleged holding - Swiss Bank Account - Delhi High Court - Income Tax Penalty - Income tax - Taxscan

A division bench of the Delhi High Court, holding that no Prejudice would be caused if the assessee complies with section 142(1) notice and the Consent Form for the alleged holding of the Swiss Bank Account in HSBC Bank, upheld the validity of income tax penalty. Based on the documents received from French official sources,…

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