ITR for option trading

If it is shown in return it is better

What if its missed out by the assessee??
any consequences or penalty by the tax dept??

A.O may reopen your case u/s 147 or he may serve notice u/s 143

You have to show data of option trading in your ITR, since when you trade option trading ,all the data is transfer to Income tax department BY SEBI and if you don't show your income in ITR they will send you notice

It's better to show the details of all trading activities in itr others wise if department get to know you skip it then he will notice you and ask you to provide from demat account to all documents related to the trading from date of trading starting to till now with all scriptts wise details and with a reason why you don't filled return in offline mode
partical case done for one of my new client so saying better to show it

The question of good or bad that is to show or not to show is itself bad idea. All incomes should be shown in Return. You are at peril if you avoid any item .

What if the option trading profit or loss is not shown in itr and its processed by the dept and 143 notice is served without any further demand by the dept???
then also is there any obligation left from the assessee's side?