response of Notice

[Amit Kumar]

Notice received under section 1431a for proposed adjustment for ay. 2013-14, however, reply could not be filed within time limit and proposed adjustment made by department and presently received notice under section 221(1) for penalty. Now the issues is how to comply penalty notice as well process to delete demand raised through proposed adjustment.

AI Summary

Taxpayer Penalized Under Section 221(1) for Late Response to Section 1431a Notice; Seeks Reversal and Reconsideration. A discussion participant received a notice under section 1431a for a proposed tax adjustment for the assessment year 2013-14 but failed to respond within the deadline, resulting in a penalty notice under section 221(1). The participant seeks advice on addressing the penalty notice and reversing the adjustment. The response suggests writing to the tax authority explaining the delay in response, requesting reconsideration of the adjustment, and addressing the penalty notice based on the authority's decision regarding the initial representation.