ITAT Orders Rs 25,000 Cost Deposit in PM Relief Fund for Assessee’s Non-Compliance

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. ...