Assessee did not appear despite service of notice: ITAT imposed cost of Rs. 5,000

Sandip Kiritbhai Patel HUF Vs DCIT (ITAT Ahmedabad) In the matter abovementioned ITAT remanded the matter to CIT (A) with a cost of Rs. 5,000/- after considering that assessee failed to comply with the notices issued by CIT (A). Assessee filed return for AY 2013-14 declaring Nil income. The case of the assessee was reopened based on information received from investigation unit that the assessee is one of the beneficiaries of accommodation entries and bogus LTCG. Assessment was completed u/s 147 r.w.s. 144/144B, making additions under Section 68 of the Act on account of bogus accommodation entr...