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Revision u/s 263 by CIT - deduction claimed u/s 54EC - It is mandatory to apply the principles of natural justice irrespective of the fact as to whether there is any statutory provision or not. As per facts of the present case, the assessee was not afforded opportunity much less sufficient opportunity to give the reply to the show cause notice. Therefore it is clear that the ld. Pr. CIT in a hurriedly manner without affording opportunity of hearing to the assessee, had passed impugned order by violating principles of audi alteram partem. - revisional proceedings framed U/s 263 of the Act by the ld. Pr.CIT stands quashed. - AT
Revision u/s 263 by CIT - deduction claimed u/s 54EC - It is mandatory to apply the principles of natural justice irrespective of the fact as to whether there is any statutory provision or not. As per facts of the present case, the assessee was not afforded opportunity much less sufficient opportunity to give the reply to the show cause notice. Therefore it is clear that the ld. Pr. CIT in a hurriedly manner without affording opportunity of hearing to the assessee, had passed impugned order by violating principles of audi alteram partem. - revisional proceedings framed U/s 263 of the Act by the ld. Pr.CIT stands quashed. - AT
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