Assessee Given One Last Opportunity to Substantiate Case: Rs. 3,000 Cost Imposed for Ignoring Notices

Venkata Sai RCC Pipes & Infrastructures Vs DCIT (ITAT Hyderabad) Introduction: In a recent case before the Income Tax Appellate Tribunal (ITAT) in Hyderabad, the ITAT directed the Commissioner of Income Tax (Appeals) NFAC to give the assessee one last opportunity to substantiate its case. The ITAT also imposed a cost of Rs. 3,000 on the assessee for ignoring notices. Background of the Case: The appellant in this case had filed an appeal before the Commissioner of Income Tax (Appeals) NFAC against an order of the Assessing Officer (AO). However, despite being granted two opportunities to ...