Fy 11-12,return submitted,assessment done. sec 273 ?

Abhi (Manager) (76 Points)

04 September 2013  

Hi Folks,

Situation :

FY 2011 - 12, AY - 2012-13.. Return submitted on 31-08-12 ( within due date).

Self assessment tax paid ..

Assessment completed in Nov'2012 with some adjustments made for interest u/s 234B and 234C.. i.e - they added interest under the above sections for non payment of advance tax..

Now, we received another letter from ITO stating "You are to show cause why penal action shall not be initiated u/s 273 of the IT Act, for failure to pay advance tax ?

My question is :

1. If the assessment has been completed and interest u/s 234B and 234C already charged for default and deferment of advance tax, can they now ask for show cause for the same financial year ?

2. What to do in the above case since this is a return for my mom who got some gains from anchestral property in Feb 2012 but we failed to pay advance tax by mar 2012..

Appreciate advise..

rgds, Abhi