Assessing Officer passed a rectification order to add an amount of Rs. 5.30 lakhs to the income of the assessee based on investment in a mutual fund. On appeal, the Tribunal held that since the investment in the mutual fund was made by the wife of assessee and the name of assessee was appearing only as a second holder and not as a primary holder. Tribunal also held that the  Assessing Officer neither issued notice of hearing to the assessee nor provided any opportunity of hearing to the assessee before amending the order passed under section 143(3); the order passed under section 154 was bad in law and was set aside.  (AY. 2007-08)