Penalty u/s 271(1)(c)

This query is : Resolved

Avik Gupta (Querist)
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16 January 2012 Dear Sir,

I wish to have your guidance on following :

For AY 2009 – 10

Assesse file return u/s 143 Self Assessment

Taxable income 24893.00
u/s 143(3) Assessing Officer (under Scrutiny) added Income 136502.00
Total 161395.00
Rounded off 161400.00

Tax Calculation :

First 150,000 @ Nil Nil
Balance 11,400 @ 10% 1140.00
Surcharge 34.00
Total 1174.00
Interest u/s/ 234 D 206.00
Total Demand 1380.00

Now I have received summon u/s 271(1)(C) for penalty

Question :

How much penalty can be levied u/s 271 (1)(C) on above case

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 January 2012 Minimum Rs. 1,174/-
Maximum Rs. 3,522/-

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