Penalty notice
This query is : Resolved
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 .
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
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