Tag: swiss bank
Penalty for non filling consent form to enable tax authorities to obtain information from Swiss Banks – Supreme Court dismissed review Petition by asessee ABCAUS Case Law Citation: ABCAUS 2525 (2018) 09 SC The assessee was served with a notice u/s 142(1) of the Income Tax Act, 1961 …
Government quotes Swiss Authorities to defend rise in Swiss Bank Deposits of Indians. However Swiss Authorities appears to have made a general assertion that more often than not, the media misinterpret figures resulting in misleading headlines and analyses. The Minister of State for Finance in written reply to a question …
Assumption that all deposits in Swiss Banks are black money is history. Ex Finance Minister defends Modi Government on the news of 50 % increase in Indian deposits in Swiss banks. Interestingly, the black money abroad was one of the election agenda of the BJP and bringing back …
Penalty us 271(1)(c) for black money in Swiss bank deleted on legal grounds by the ITAT as the Income Tax Department failed poorly to prosecute on legal grounds. This is in fact one of the example to what extent Income Tax Department had prepared its officer with required …