{"id":57635,"date":"2025-12-14T18:28:25","date_gmt":"2025-12-14T12:58:25","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=57635"},"modified":"2025-12-14T18:28:25","modified_gmt":"2025-12-14T12:58:25","slug":"penalty-proceeding-u-s-270-after-assessment-u-s-1432","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/penalty-proceeding-u-s-270-after-assessment-u-s-1432\/","title":{"rendered":"PENALTY PROCEEDING u\/S 270 AFTER ASSESSMENT U\/S 143(2)"},"content":{"rendered":"<p>what are the consequences of penalty for income escaped in 23-24 accepted by tax payer while scrutiny assessment u\/s 143(2).<\/p>\n<p>Facts:<\/p>\n<p>The taxpayer is an artist and has verbal contract for performance for 23-24 and 24-25.<\/p>\n<p>The taxpayer has received total rs. 4.5 cr (1.5cr as advance ) in 23-24 and TDS has been deducted and GST also has been paid for the same and by mistake advances were shown as B2B invoices and hence GST turnover is shown as 4.5cr.<\/p>\n<p>While filing Income tax return it has been observed and the said 1.5 cr advances has been removed\u00a0 from Gross Receipts and the return was filed U\/s 44ADA offering 3 Cr as Gross income and tax has been paid.<\/p>\n<p>Now the assessment u\/s 143(2) has been initiated and the assessee is ready to offer the same as income in the submission and with interest to avoid penal consequences.<\/p>\n<p>what are the consequences U\/s 270F and 271F for the same<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[1275],"qa_category":[23],"qa_tag":[344,436],"class_list":["post-57635","qa","type-qa","status-publish","hentry","qa_expert-law-intern","qa_category-income-tax","qa_tag-concealment-penalty","qa_tag-section-270a"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/57635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=57635"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=57635"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=57635"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=57635"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=57635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}