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2014 (8) TMI 957 - ITAT DELHIDisallowance of adjusted business loss - Held that:- It is amply clear that the Appellant and Assessing Officer should be provided an opportunity of being heard, which was not provided by the Ld. CIT(A) to the parties. Therefore, the impugned order passed by the Ld. First Appellate Authority is contrary to the principles of natural justice as well as the provisions of section 250(2)(b) of the I.T. Act, 1961, thus, it is liable to be cancelled and we cancel the impugned order and also direct the Ld. First Appellate Authority to decide the issues in dispute afresh in accordance with law, after giving the adequate opportunity to both the parties in terms of section 250(2)(b) of the Income Tax Act, 1961. - Decided in favour of Revenue.
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