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2018 (7) TMI 306 - AT - Income TaxValidity of notice issued u/s.148 - denial of natural justice - AO issued notice merely on the basis of information received from third party and without applying his mind on the issue of concealment of income - Held that:- AO as well as the CIT(A) have made the aforesaid addition of ₹ 26,58,213/- at the back of the assessee without providing copies of statement/affidavits of the parties and without providing the benefit of cross examination of the parties to the assessee. The application of the assessee addressed to the CIT(A)-I, dated 16-12-2016, evidences the fact of seeking cross examination and copies of statements/affidavits of the parties. Thus revenue authorities have not followed due procedure before making reassessment u/s.147 of the Act and therefore, violated the principles of natural justice. Coming to the merits also, the assessee has produced copies of bills, transport receipts, delivery challans, bank statements, etc. establishing the trail of goods. Further, the books of account have also not been rejected u/s.145(3) of the Act. - Decided in favour of assessee
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