Notice u/s 139(9)

Save Share

This query is : Open

Parul Agrawal (Querist)

26 February 2016 The notice has been served to a partnership firm whose Itr 5, showing income from 44AD has been filed. The assesse is a no books case, hence we properly filled the details of cash balance in no books head. In response to it, we have made B/S & P&l has duly filed it. But the notice has again been served. Can anyone tell the response to it?

Suresh Ramaswamy

Suresh Ramaswamy (Expert)

26 February 2016 Could you kindly clarify how the Balance Sheet & Profit & Loss account were made, if no books of accounts are maintained. Was it a detailed P& L Account or just with a few heads like Sales, Other Incomes, Purchases, Salaries, Rent, Rates & Taxes and Other Expenses. If your P & L showed just a few heads of Expenditure you can justify your P & L. You have issued Sales Invoices, received Purchase Invoices, know the salaries, rent and taxes paid, easily ascertainable from your bank statements.

I feel you have submitted a detailed P & L Account, and hence the notice u/s 139 (9) as to how you could file such an accurate account and Statement of Affairs.

Your response should be framed depending on the circumstances and also justify your P&L A/C and B/S.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now