Regarding notice 142(1)

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

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.

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.

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।