Calculation of penalty U/s 271(1)(C)

[anil goenka]

How we calculate penalty u/s 271(1)(C) in case of loss even after addition in assessment order if the assessee is individual ?  We can claim deduction chapter VI for tax calculation purpose or not. What is the actual  meaning of tax sought to be evaded as per explanation 4 (a) of section 271 in respect of my situation.  

Please reply in detail.

Reg

Sushil Kumar

9830202248

Sushil Kumar

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above said issue? If not please inform.

AI Summary

Penalty under section 271(1)(C): applicability of Chapter VI-A deductions when assessee remains in loss for tax calculation questioned. Calculation of penalty under section 271(1)(C) where assessment additions leave the assessee in a loss examines whether penalty is triggered and how the tax base for penalty is computed when taxable income remains nil or negative. The query also asks whether Chapter VI-A deductions are allowable for computing tax relevant to penalty and requests the meaning of 'tax sought to be evaded' under Explanation 4(a) in that context.