Penalty notice

This query is : Resolved

Dinesh Gautam (Querist)
Follow

28 September 2017 If income tax officer impose penalty on ground of not maintaing books of accounts of f&o trades and not filing audit report.Can I file appeal against penalty and what is probality of reducing penalty.I incured loss in that financial year and I did not report loss .

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

30 September 2017 you can always appeal against a penalty order but you should have grounds to justify your claims. Only if you could prove your bonafide intentions, there would be any chance of reduction/cancellation of the penalty

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