Notice u/s 143(2)

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The person has received notice U/s 143(2) for AY 2007-08. It has come to notice that there was some income which was not disclosed in the return. Can anyone please tell that under which section it attracts penalty and what shall be the amount of penalty??

Replies (1)

As per my knowledge notice u/s 143(2) can't be send aftr six months frm d end of AY in whch return is filed...so last date of filling belated return fr AY 07-08 vl b31.03.2009..so notice of AY 07-08 max can b issued upto 30.09.2009...so i guess notice is time barred n file an appeal against the notice to CIT(appeals).

Or thr is possibility aftr tat if return is filed againt notice u/s 142(1) thn n it is find that u have concealed the income thn penalty vl b attracted u/s 271(1)(c)...minimum 100% n max 300% of tax on that concealed income.


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