Notice under section 142(1)
This query is : Resolved
Nitesh kumar
(Querist)
09 October 2019
One of my friend has got notice under section 142(1) ..... Actually in reality there is a error in nature of business....he is a Commission agent.....but by error it has been shown as wholesale business..... Now due to huge cash transaction he has got notice..... Is there any process to correct it?
CA Dhruva Kalamanji
(Expert)
09 October 2019
Hi Nitesh Kumar
after receiving 142(1) it is not advisable to file revised return.Because it will be an additional info for assessing officer to build the case. Instead kindly make a reply letter accepting the error , better consult a professional than self preparing.
you can write to me at sthayin@gmail.
after receiving 142(1) it is not advisable to file revised return.Because it will be an additional info for assessing officer to build the case. Instead kindly make a reply letter accepting the error , better consult a professional than self preparing.
you can write to me at sthayin@gmail.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- MSME disclosure and disallowance
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
