penalty u/s 271 (1) (c)
This query is : Resolved
29 December 2009
assesseee has charges the excess depreciation for full year instead of half year. at the time of procedding AO find the mistake and add/back to income .now these attract the penlaty u/s 271(1) (c)
29 December 2009
Charging more depreciation amounts to furnish inaccurate particulars of income; hence penalty can be levied.
29 December 2009
agree.Excess Depriciation is subject to additional of income and penalty leived.
30 December 2009
As per amended section 143(1) A.O. is required to adjust all inconsistancy, ommissions, arithmatical errors etc. while processing the return. Hence no penalty is to be imposed.
Further if your accounts are audited by a chartered accoutant then it is the absolute duty of the C.A. to calculate the Depreciation correctly.
Further if your accounts are audited by a chartered accoutant then it is the absolute duty of the C.A. to calculate the Depreciation correctly.
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Free lancer income
- STCG FOR GOLD ETFs
- Small dealers gst returns filing
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
