ITAT Confirms Penalty for not attending SCN related to Undisclosed Swiss Bank A/C

Ld. DR contends that the assessee was found to have maintained undisclosed foreign a/c in HSBC Bank, Switzerland, whose details were not disclosed to the Income Tax Department. During the course of these assessment proceedings the assessee deliberately adopted a non-cooperative attitude to ward off the necessary inquiries and investigation by the Income Tax Department. Ld. CIT(A) has made detailed observations in this behalf and deliberated on the consequent impact of non-cooperative attitude of the assessee in necessary investigations about the undisclosed HSBC Bank Accounts. In penalty proce...