From,
…………………………………..
…………………………………..
Dated ………………………..
To,
Additional / Joint / Deputy / Assistant Commissioner of Income Tax,
Income-tax Officer,
Circle/Ward …………………….
Dear Sir/Madam,
Subject : Reply to Show Cause Notice for penalty under section 270A
PAN No ……………
Please refer to your notice dated ………….. u/s 270A of the Income Tax Act, 1961 for Assessment Year …………………… served on my client ……………….
With refer to your aforesaid letter dated: …………..& ……………..by which your honor proposed to levy a penalty for failed to comply with notice(s) issued under section 270A. We do hereby would like to confirm you that we agree to disallowance being made U/s 37 for Rs. ………../- while computing Income Tax for FY ….…….. You will kindly note that this disallowance does not materially change our results and we are a loss-making entity, so there is no change in taxes due to this. This happened due to human error only as we did not have any intention of mis-reporting in any way. In addition, we have disclosed all the material facts to our auditors who had carried out an audit of our books of accounts, which we have subsequently used for all statutory reporting purposes.
We would pray you to kindly consider the same and drop all penalty proceedings U/s 270 for FY 20…..……..
The assessment under section 143(3) has already been made vide ……………………………………..dated ……………… for FY 20….……..
Please refer to our reply in response to the submission of documents under the aforementioned notice:
1.Copy of the assessment order for the subject Assessment Year.
We do hereby attach herewith Assessment Order u/s 143(3) for FY …………, Assessment Year being FY ………….. issued vide Document No. ……………………….. Dated: – …………….
- Please furnish a copy of the reply to the penalty show cause, if any furnished already.
…………………………………………….
- If you have preferred an appeal against the assessment order, please furnish the appeal memo and grounds of appeal.
…………………………………………………..
- If the penalty proceedings are kept in abeyance, please furnish a copy of communication received by you.
………………………………………………………
- If any application for the Vivad Se Vishwas Scheme has been filed, please submit a copy of Form 1 and 2.
…………………………………………………….
Therefore, you are requested that drop all the penalty proceedings-initiated u/s 270 of the Income tax Act, 1961 for FY ………………….., Assessment year being FY ……………. for which we will remain ever greatful to you.
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Thanking you
Yours faithfully
…………………………….