Panalty U/s 271(1)(c)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 February 2011
ITR for AY 04-05 flied with a loss Of Rs. 800000. Later on case picked up U/s 148 Assessee has not deposited Rs. 500000/-for sales tax, bonus payable, ESI & PF (Both contributions) for the AY 2004-05 till today. He also forget to add back the same in the above ITR. But the same was pointed out by the auditor in his report. ITO reduce the loss and assessed a balance loss of Rs. 300000/-.Now ITO initiated the panelty on grounds that assessee has furnished inaccurate particluars of income to the extent of Rs. 500000/-.
How can I save the panelty.
Regards
CA Rajesh Kumar Khandelwal
9818595050
How can I save the panelty.
Regards
CA Rajesh Kumar Khandelwal
9818595050
03 February 2011
Try in appeal with CIT vs. Reliance Petroproducts Pvt. Ltd. (2010) 322 ITR 158(SC).
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
- TDS 194-T applicability
- Tds on commission charges
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Applicability of GST on Salary Reimbursement Component
- Dep. as per companies act
- Consolidated financials
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- New GST registration for new place of business.
- Regarding Applicability of Tax Audit u/s 44AB
- Salary from Qatar in Dollars in India
- CHECK RELATED
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
Quick Links
Featured
12 September 2026
Assistant Manager - Finance & Compliance
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
ARTICLESHIP
18 September 2026
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
