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Querist : Anonymous

Querist : Anonymous (Querist)

01 June 2013 WE have received a communication from CPC ( Income tax) under section 139(9) . in this communication it is mentioned that part A P & L have not filed . we have filed a return in which there is no element in profit and loss a\c as the commercial production of the company is not started . Because the company is in construction stage . All the expenditure are of the preoperative nature and hence capitalised . so please suggest me how to reply to cpc .

my mail id is khatri.khatri620@gmail.com
CA BHARAT KHATRI

Ganeshbabu K

Ganeshbabu K (Expert)

01 June 2013 Dear sir,,

Yes, where there is no operations, there is no requirement of profit and loss statement.

So give a written reply to AO that " business entity not yet started commercial activity so no profit and loss statement made"

communication can be sent with in 15 days of receipt of communication,

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