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2023 (1) TMI 570 - ITAT MUMBAIEx-parte order passed by NFAC - Violation of Principles of Natural Justice - Addition u/s 56 (2)(viib) AND Disallowance under section 40A(2)(b) - portion the shares are issued to a non-resident and to a venture capital company/fund - HELD THAT:- It is evident that order passed by the Ld. CIT(A) is in violation of the principles of natural justice and therefore, we feel it appropriate to restore this matter back to the file of the Ld. CIT(A) for passing a reasoned order after taking into consideration submission of the assessee. The grounds of appeal of the assessee are accordingly allowed for statistical purposes.
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