On appeal by the assessee, held, allowing the appeal that the opportunity of hearing not granted. Principle of natural justice is violated. Order is not valid. Notice based on Order of Commissioner of Customs and Excise.. Order subsequently quashed. Very basis to support reasons to believe no longer in existence. Proceedings to be quashed. (AY.2008-09)
Bansiwala Iron and Steel Rolling Mills v. Dy.CIT (2021) 91 ITR 263 / 214 TTJ 93 (Jaipur)(Trib.)
S. 147 : Reassessment-Opportunity of hearing not granted-Principle of natural justice is violated-Order is not valid-Information from third party-Notice invalid-Notice based on Order of Commissioner of Customs and Excise-Order subsequently quashed-Very basis to support reasons to believe no longer in existence-Proceedings to be quashed. [S. 143(1), 148]