Appeal

Notice of Demand u/s  156 was issued... The time limit of 30 days was not yet lapsed

Dear Balakrishnan,

AO cannot overrule the provisions while doing assessment, Standard deduction of 30% has to be allowed in case of concealed income also.

If AO want to penalize assessee then he can Impose penalty for concealment u/s 271(1)(c) upto 3 times the tax sought to be evaded, but cannot deprive assessee from claiming the deduction.

I think first move an application u/s 154, as a mistake apparent from the record & if AO still not allow ur claim then file a appeal to CIT(A)

Mr.Balakrishnan...

Agree with Mr.Amir...

AO cannot overrule the provisions while doing assessment, Standard deduction of 30% has to be allowed in case of concealed income also.

penalty for concealment u/s 271(1)(c) is 1 time upto 3 times the tax sought to be evaded...

please contact the A.O. with an application / a letter...

Thanks everybody