The Economic Times

Man did not disclose UAE bank account and foreign shares in ITR, I-T dept imposed Rs 1.86 lakh penalty; He escalates the case but ITAT Delhi offers no relief

Dubai connection: Man claimed friend sent money to Dubai Emirates NBD bank a/c to start business but didn't disclose foreign assets in Schedule FA of ITR; ITAT Delhi upholds Rs 1.86 lakh penalty under Black Money Act, 2015. Know why did he lose the case.