Dear Experts, please advice. I was an NRI during assessment year 2019-20. I bought property and didnt filed IT returns during that time. I went thru the Faceless assessment procedure for the assessment year 2019-20. Now i received the final reply as follows
1) "Assessment order" says, i didnt provide proper responses to show the source of income. Although i provided detailed reply to IT Dept.
2) But Demand notice (section 156) says, I need to pay Rs.0 for Assessment year 2019-20 and computation sheet submitted by IT department provides NIL tax to be paid. Infact IT department refunded Rs.3000 rupees back to my account
3) But now IT Department opened the penalty notice u/s 271(1)(c), 271F, 271(1)(b).
Please advice, based on the demand notice (Section 156), can i consider this case is CLOSED (or) Based on assessment order, whether the case is OPEN and still IT Department can impose heavy penalty on me
Please advice. Whether penalty as per 271(1)(c), 271F, 271(1)(b) is applicable to me
CAclubindia
