Letter format to drop penalty u/s 271(1)(c)

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Great Roy

Great Roy (Querist)
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14 March 2012 Hi, I would be greatful if anyone provide me a letter format to drop penalty u/s 271(1)(c).Thanks

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 March 2012 Date....

From
________________________________
________________________________

_______________________________

To
______________________________

_____________________________
____________________________

Subject: – Reply to notices u /s 271(1)(c) of I T Act, 1961.

Ref: i) PANo.......Asst.Yr.........
ii)Your Office Letter No…………Dated.....

Sir,

I refer to your aforesaid letter dated ……….by which your Honor proposed to levy a penalty for concealment of income under section 271(1)(c) of the Income tax Act,1961 for which I would like to submit as under:-

1. That I had filed the return of income in your Honour's office for the Assessment year ………. On ………………

2. That the return had been processed on....... and intimation under section 143(1) had been served on me on........

3. That I had been served with a notice under section 143(2) of the said act on ........ and the case had been heard on .......

4. That I had been served with an assessement order under section 143(3) of the said act by which the taxable income had been fixed at Rs...... as against the returned income of Rs.........

5. That the addition to the declared income viz., Rs......... is on account of the following additions made at the time of assessment by your good self.
a).......
b).......
c).......

6. That I have declared true and correct return and that I have not concealed the income nor had given in accurate particulars of income for the assessment year......

Prayer:-

I ,therefore, pray that your Honor shall accept the conceded income as my true and correct income and to drop the proposed penalty proceeding initiated u/s 271(1)(c) of the Income tax Act,1961 as there was no malafide intention to conceal or furnish inaccurate particulars of income for the assessment year........

Your faithfully

Signature.

(Assessee Name)

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Great Roy

Great Roy (Querist)
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15 March 2012 Thanks for Answer.

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Prajjwal

Prajjwal (Expert)
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03 July 2018 I would also advise you to include specific reasons for the penalty waiver. That will help to make your case more solid.

Nilesh Gami

Nilesh Gami (Expert)
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03 September 2019 can anyone share format to reply notice u/s 142 (1)

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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02 August 2024 Certainly! Below is a sample format for replying to a notice issued under Section 142(1) of the Income Tax Act, 1961. Section 142(1) is typically used by the Assessing Officer (AO) to request additional information or documents to verify the income returned by an assessee.

### **Sample Format for Replying to Notice under Section 142(1)**

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**[Your Name/Your Company Name]**
**[Your Address]**
**[City, State, PIN Code]**
**[Email Address]**
**[Phone Number]**

**Date: [DD/MM/YYYY]**

**To,**
**The Income Tax Officer**
**[Office Address of the Income Tax Department]**
**[City, State, PIN Code]**

**Subject: Reply to Notice under Section 142(1) for AY [Assessment Year]**

**Dear Sir/Madam,**

This is with reference to your notice dated [Date of Notice] issued under Section 142(1) of the Income Tax Act, 1961, concerning the assessment for the Assessment Year [Assessment Year].

We acknowledge receipt of your notice and have compiled the required information/documents as requested. Below is a summary of the documents enclosed for your review:

1. **Income Tax Return (ITR)** for Assessment Year [Assessment Year]
2. **Computation of Income** for the Assessment Year [Assessment Year]
3. **Balance Sheet** as of [Date]
4. **Profit & Loss Account** for the period ending [Date]
5. **Supporting Documents** (if applicable, specify documents like bank statements, invoices, etc.)

**Details of Enclosures:**

- **Document 1**: [Description of Document]
- **Document 2**: [Description of Document]
- **Document 3**: [Description of Document]

We confirm that the enclosed documents are accurate and pertain to the financial details of the said assessment year. Please find the requested information for your review and further action.

If you require any additional information or clarification, please feel free to contact us. We are available at [Your Phone Number] or [Your Email Address] to provide any further assistance.

**Thank you for your attention to this matter.**

**Yours faithfully,**

**[Your Signature]**
**[Your Name]**
**[Your Designation, if applicable]**
**[Your Company Name, if applicable]**

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### **Important Tips for Your Response**

1. **Timeliness**: Ensure that your reply is submitted within the timeframe specified in the notice.
2. **Accuracy**: Double-check that all the requested documents are enclosed and accurately reflect your financial details.
3. **Clarity**: Clearly reference the notice number and date, and detail the documents being submitted.
4. **Acknowledgment**: Request acknowledgment of receipt from the Income Tax Department to ensure your response is recorded.

### **Consulting a Tax Professional**

For complex cases or if you have specific concerns, consider consulting with a tax advisor or legal professional to ensure your response is thorough and complies with all legal requirements.