WRONG PENALTY LEVIED BY ITO
This query is : Resolved
20 March 2021
In a assessment order passed by ITO ito mentioned penalty for misreporting of income in place of under reporting of income.
Then what to do..
ITO Disallowed cash expenses u/s 40(a) and treat as misreporting of income.
Penalty for under reporting of income is 50% and for misreporting is 200%. and there is no immunity available for misreporting penalty..
Then what to do if ITO levied wrong penalty in assessment order..
Then what to do..
ITO Disallowed cash expenses u/s 40(a) and treat as misreporting of income.
Penalty for under reporting of income is 50% and for misreporting is 200%. and there is no immunity available for misreporting penalty..
Then what to do if ITO levied wrong penalty in assessment order..
20 March 2021
File appeal with CIT appeal online.
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