Case Law Details
Tera Naturals Resources Pvt. Ltd. Vs ITO (ITAT Mumbai)
Introduction: In a recent case involving Tera Naturals Resources Pvt. Ltd. versus the Income Tax Officer (ITO), the Income Tax Appellate Tribunal (ITAT) in Mumbai issued an order directing the assessee to deposit a cost of Rs 25,000 in the Prime Minister Relief Fund. This action was taken due to the non-compliance behavior exhibited by the assessee during the appellate proceedings. This article provides an in-depth analysis of the case, including the background, reasons for the ITAT’s decision, and the implications for the assessee.
Analysis by Subheading:
1. Background of the Case: Provide an overview of the case, highlighting the issues under consideration and the initial assessment by the Income Tax Officer.
2. Non-Compliance by the Assessee: Explain how the assessee failed to comply with the statutory notices and provide the specific instances of non-compliance during the assessment and appellate proceedings.
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