Sec 271(1)(c)

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G S SHRIDHAR

G S SHRIDHAR (Querist)
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22 July 2013 Kindly send me reply letter format to AO under sec 271(c)(1) penalty under I Tax Act

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 July 2013 LETTER (FORMAT) FOR REPLY TO LETTER U/S 271(1)(C) OF THE INCOME TAX ACT,1961.

Date....

From
________________________________
________________________________
_______________________________

To
______________________________
_____________________________
____________________________

Subject: – Reply to notices u /s 271(1)(c) of I T Act, 1961.
Ref: i) PANo.......Asst.Yr.........
ii)Your Office Letter No…………Dated.....
Sir,
I refer to your aforesaid letter dated ……….by which your Honor proposed to levy a penalty for concealment of income under section 271(1)(c) of the Income tax Act,1961 for which I would like to submit as under:-
1. That I had filed the return of income in your Honour's office for the Assessment year ………. On ………………
2. That the return had been processed on....... and intimation under section 143(1) had been served on me on........
3. That I had been served with a notice under section 143(2) of the said act on ........ and the case had been heard on .......
4. That I had been served with an assessement order under section 143(3) of the said act by which the taxable income had been fixed at Rs...... as against the returned income of Rs.........
5. That the addition to the declared income viz., Rs......... is on account of the following additions made at the time of assessment by your good self.
a).......
b).......
c).......
6. That I have declared true and correct return and that I have not concealed the income nor had given in accurate particulars of income for the assessment year......

Prayer:-

I ,therefore, pray that your Honor shall accept the conceded income as my true and correct income and to drop the proposed penalty proceeding initiated u/s 271(1)(c) of the Income tax Act,1961 as there was no malafide intention to conceal or furnish inaccurate particulars of income for the assessment year........

Your faithfully

Signature.

(Assessee Name)