Expenses disallowed by ao

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 November 2016 Dear All
While assessment AO has disallowed
the expenses hence profit has been hiked and tax libility also arries however this return is pertain to AY 2016-17. Pls tell me weather flat 30% rax shall be levied on tax liability arries after disallowance by AO or slab wise as it is
Proprietary's firm return?

Regards
Anol Jain

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Expert : Anonymous

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Expert : Anonymous (Expert)
27 November 2016 Tax will be recommended as per the tax slab applicable. Differential tax will be payable along with interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 November 2016 Sir in this case will sec 270A be attract or not as to misreporting income?

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Expert : Anonymous

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Expert : Anonymous (Expert)
27 November 2016 Penal provisions should not be applicable, in my view.

20 November 2021 In case it is penalize, go for appeal with proper explanation.


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