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2023 (11) TMI 198 - AT - Income TaxValidity of assessment u/s 153A - due approval u/s 153 D - Addition invoking the provisions of section 56(2)(viia) - addition alleging anomalies in the method of valuation adopted by the AO - Admission of additional documentary evidence denied - HELD THAT:- As stated by the assessee, and rightly so there were justifiable reasons on its part for not filing the requisite details/documents, which have been filed before us as additional evidence, in the course of the proceedings before the CIT(Appeals). Also, it is a matter of fact borne from the record that the CIT(Appeals) had merely referred to the observations of the A.O. and disposed off the appeal by approving the same. We, thus, in the totality of the facts involved in the present case before us, read a/w. multi-facet contentions that have been raised by the assessee before us wherein adjudication of the majority of those would require a reference of the additional documentary evidence that the assessee has placed before us, restore the matter to the file of the CIT(Appeals) with a direction to him to re-adjudicate the same after taking cognizance of the additional documentary evidence and also addressing the additional grounds of appeal that have been raised by the assessee in the course of the proceedings before us - CIT(Appeals) shall, in the course of set-aside proceedings, afford a reasonable opportunity of being heard to the assessee company, which shall remain at liberty to substantiate its contentions on the basis of fresh documentary evidence. Assessee appeal allowed for statistical purposes
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