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2019 (7) TMI 432 - AT - Income TaxRe-opening of assessment u/s 147 - bogus STCG - solely on the basis of the report / statements of the persons of Mahasagar Group - no opportunity to present its rebuttal, and / or cross – examination of any person whose statement was relied upon - HELD THAT:- Hon’ble Karnataka High Court in the case of M/s. Chandra Devi Kothari [2015 (2) TMI 1313 - KARNATAKA HIGH COURT] has held that assessee has been denied an opportunity of fair hearing by providing copy of the statement and related details regarding the alleged share amount, hence the matter requires to be re-considered by the respondent by providing fair and reasonable opportunity of hearing to the assessee and by furnishing the details / copy of the statement based on which the impugned assessment order has been passed. The facts noted by the High Court appears to be similar to the fact situation in the case on hand and therefore by respectfully following the judgment in the case of Chandra Devi Kothari (Supra), I set aside the impugned order of learned CIT(A) for Assessment Year 2007-08 and restore the matter to the file of the AO for fresh adjudication with the same directions as were issued by the Hon’ble Karnataka High Court in above judgment. In view of this decision, no adjudication is called for at this stage in respect of other grounds; both legal and on the merits of the addition. - the assessee’s appeal is allowed for statistical purposes
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