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2023 (8) TMI 1014 - ITAT MUMBAIBest judgment assessment u/s 144 - negligence on the part of assessee in not responding to the notices issued by the AO - denial of exemption u/s 10(38) - 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 due to non-communication of notices to the assessee by its custodian in India-Kotak Custody Services - HELD THAT:- It is evident from records that the assessee could not represent its case before the AO, effectively. 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.
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