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2010 (9) TMI 1166 - ITAT KOLKATA
Extract:
.......lder, provisions of section 2(22)(e) will not apply as held by Special Bench , ITAT, Mumbai in Bhaumik Colour Pvt. Ltd. (supra). We may state that AO will give due opportunity of hearing to assessee before making assessment. 14. In the result, assessee’s appeal is partly allowed as indicated above. Order pronounced in open Court on 24.09.2010