04 July 2021
One individual firm received a notice u/s 144 of income tax act for non comply with the notice sent by department .they raised demand for rs 3 crore .now my question is that ;
1.if I still not reply for order u/s 144.what are the consequences I will face.
2.what is the remedy available with the assessee. We are now bound to pay the demand amount .
05 July 2021
File an appeal before Commissioner of Income Tax (Appeals) in Form No. 35 online with an appeal fee of Rs.1000. Simultaneously, file an application for stay of demand with the assessing officer. The stay may be granted subject to payment of 20% of demand and deserving cases even on lower payment. After filing of the appeal also file a letter to keep the penalty proceedings in abeyance till disposal of appeal by the CIT (A). After filing of the appeal, keep the submissions ready to be made during the course of hearing of appeal in faceless proceedings
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