2023 (8) TMI 1014

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..... ely. At the same time we are of view that there is negligence on the part of assessee in not responding to the notices issued by the AO. The assessee should have made reliable arrangement for communication of notices. Non-communication of notices cannot be attributed to the Department. Therefore, it is a fit case for levy of cost on assessee for not responding to the notices. Accordingly, we deem it appropriate to levy cost of Rs. 10,000/- on the assessee. - Shri Vikas Awasthy, Judicial Member And Ms. Padmavathy S, Accountant Member For the Appellant : Sh. A.N. Shah For the Respondent : Sh. Anil Sant, Sr. DR ORDER PER VIKAS AWASTHY, JM This appeal by the assessee is directed against the assessment order .....

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..... assessee could not make proper submissions before the AO due to non-receipt of the notices. Even the draft assessment order was not received by the assessee in time. As soon as the assessee came to know about the draft assessment order, the assessee filed objections before the DRP. However, the DRP dismissed the objections of assessee on the ground of limitation. 3. The Ld. Authorized Representative (AR) fairly admitted that in the absence of proper communication of notices, the assessee could not make submissions before the AO and the objections filed before the DRP were belated. He submitted that if an opportunity is granted, the assessee would be able to show that no tax is payable on LTCG earned on sale of shares. He further submitt .....

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..... the basis of documents already on record. The AO made the assessment under section 144 on best judgment basis. The assessee further goofed in filing objections before the DRP. The DRP dismissed the objections in limine on ground of limitation. The assessee has tried to explain the reasons for not responding to the notices filed by the AO and delay in filing of objections before the DRP. The failure to respond to the notices by the AO has been attributed to non-communication of notices to the assessee by its custodian in India-Kotak Custody Services. It is evident from records that the assessee could not represent its case before the AO, effectively. 6. At the same time we are of view that there is negligence on the part of assessee in no .....

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