ITAT Imposes Rs. 10,000 Cost on Appellant for not responding to notices issued by AO

Hunt International Investments LLC Vs DCIT (ITAT Mumbai) Introduction: In the case of Hunt International Investments LLC Vs DCIT (ITAT Mumbai), a significant ruling was issued involving the non-response to notices under section 142(1) of the Income Tax Act, 1961. ITAT imposed a cost of Rs. 10,000 on the foreign portfolio investor. This article delves into the key aspects of the order and analyzes the implications. Analysis: 1. Background: Hunt International Investments LLC, a US-based foreign portfolio investor, was directed against an assessment order for the AY 2015-16. The core issue revolv...