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

AI Summary

Clarification Sought on Penalties Under Section 271(1)(C) for Losses and Deductions in Tax Calculation Process A user inquired about calculating penalties under Section 271(1)(C) of the Income Tax Act when there is a loss after additions in the assessment order for an individual. The user asked whether deductions under Chapter VI can be claimed for tax calculation and sought clarification on the term 'tax sought to be evaded' as per Explanation 4(a) of Section 271. Another participant responded, asking if the issue was clarified and requested further information if it was not.