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Regarding notice 142(1)

RUDRA (Income & Corporate Tax Lawyer) (381 Points)

16 December 2019

I got a notice under 142(1) from Income Tax . so when my CA filed the return then he forgot to upload audit report. My actual turnover from bank was near about 4Cr. But my CA represent only 90 Laks and total NP near about 5laks. Regarding this I got many notices. This is the case of 2017-18 and there is no audit report of that year. Can I do audit of 2017-18 any how?

Now what should I do now ?

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4 Replies

Ramahari Dash (accountant) (44 Points)
Replied 16 December 2019

Please consult your CA he will infrom you what should after that

CA JANESH CHHATBAR (OWNER) (32 Points)
Replied 16 December 2019

He may have intentionally not attached audit report or calculated your income in a way you do not fall under audit to save you from the penalty for non audit of rs 150k.

RUDRA (Income & Corporate Tax Lawyer) (381 Points)
Replied 16 December 2019

CA don't want to do anything. I had shown him a notice then he says that we have to do assessment for this. He had some replies regarding only transactions, nothing else. Then after 4 notices again that your replies are not satisfying us , so why we should not impose 10L penalty on you for mis reporting and and giving us wrong information.
then CA is saying we have to do settlement and go for appeal.

Alok Singh (209 Points)
Replied 17 December 2019

कैसे CA hai ye , ho CA bol रहे वो तो आसान है ही। ca के लिए। लेकिन ये तो बेहद गंभीर बात है कि उसने गलत जानकारी दी सिस्टम पे। बहुत ध्यान देकर सलाहकार चुने , नहीं तो यही होगा।